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Hello, can you please include the steps. I will leave a like. Thank you. Suppose you would like to grow your $10,000 investment into $15,000
Hello, can you please include the steps. I will leave a like. Thank you.
Suppose you would like to grow your $10,000 investment into $15,000 by placing it into a CD account that compounds daily at an interest rate of 4%. How long would it take for your investment to grow to your target among of $15,000? Note: After calculating your results, you may conclude that the time is too long. In this case, you might choose other investments that are riskier.
4% interest is daily
4% interest is daily
Minimum Deposit | Term Length APY Average Percentage Yield Interest Rate $10,000 $10,000 $10,000 11 months 18 months 39 months 3.5% 4% 4% Withdrawals made after the first 7 days of account opening are subject to the Early Withdrawal Fee. Original CD Term Length Penalty Terms 3 months or less 1 months' interest Terms 3 months through 12 months 3 months' interest Terms 12 months through 24 months 6 months' interest Terms over 24 months 12 months' interestStep by Step Solution
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