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Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $5,000 for
Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $5,000 for his CD investment. If the bank is offering a 5.5% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. two-year investment period? b. five-year investment period? c. ten-year investment period? d. fifteen-year investment period
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