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Minimum Deposit Term Length APY Average Percentage Yield Interest Rate 3.5% 4% 4% $10,000 $10,000 $10,000 12 months 18 months 39 months 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' interest i. How much money will you earn if you open a 12-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 8 months. How much will you have earned after penalties? ii. How much money will you earn if you open a 18-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 16 months. How much will you have earned after penalties? How much money will you earn if you open a 39-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 20 months. How much will you have earned after penalties? Minimum Deposit Term Length APY Average Percentage Yield Interest Rate $10,000 12 months 3.5% $10,000 18 months $10,000 39 months +% 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' interest i. How much money will you earn if you open a 12-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 8 months. How much will you have cared after penalties? 11. How much money will you earn if you open a 18-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 16 months. How much will you have earned after penalties? How much money will you earn if you open a 39-month CD account with $10,000 and invest your money until it fully matures? Suppose you pull your money out of the account after 20 months. How much will you have cared after penalties? 4 pts- Calculations and results. Show all calculations and write all results in complete sentences. Be specific as possible. iv Suppose you want to save $20,000 in 5 years? How much does your initial investment need to be if the CD account is compounded daily at an interest rate of 4%? 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 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 Pts-Reflection. Write at least 4 sentences. c. Consider parts il discuss which investment seems like the best option given your financial obligations spending habits and state your reason for your choice. Consider the length of time, penalties for early withdrawal and interesteamed over time. Would you consider investing in a CD in real life? Why