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Celine inherited a sum of money and invested part of it in a bond with an APR of 7.82% compounded quarterly and the rest in
Celine inherited a sum of money and invested part of it in a bond with an APR of 7.82% compounded quarterly and the rest in a certificate of deposit with an APR of 3.96% compounded continuously. Clearly label each of the following three parts on your paper. Show at least one step of work to justify your answer for each part. Part A: How much money would Celine need to invest in the certificate of deposit for it to grow in value to $65,000 in 18 years? Round to the hundredths place. Part B: Calculate how long it takes for an investment of $22,100 in the bond to triple. Round to the hundredths place. Part C: Calculate the APY (effective rate) of the bond. Round your percentage to the thousandths place. Celine inherited a sum of money and invested part of it in a bond with an APR of 7.82% compounded quarterly and the rest in a certificate of deposit with an APR of 3.96% compounded continuously. Clearly label each of the following three parts on your paper. Show at least one step of work to justify your answer for each part. Part A: How much money would Celine need to invest in the certificate of deposit for it to grow in value to $65,000 in 18 years? Round to the hundredths place. Part B: Calculate how long it takes for an investment of $22,100 in the bond to triple. Round to the hundredths place. Part C: Calculate the APY (effective rate) of the bond. Round your percentage to the thousandths place
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