Question
Five years ago Peter invested $20000 into a 4 year GIC at an annual rate of 5.75% compounded monthly. His brother Troy put some
Five years ago Peter invested $20000 into a 4 year GIC at an annual rate of 5.75% compounded monthly. His brother Troy put some money into a CD four years ago that earned him an annual rate of 3.65% compounded daily. If both the investments are the same value after four years, how much did Troy invest in the CD? N = 1% = PV = PMT= FV = P/Y = C/Y = Peter N = 1% = PV = PMT= FV = P/Y = C/Y = Troy Troy invested $21740.79
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
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