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how to get quedtion 7 &8? Bernadette has an opportunity to invest $20,000 in a Certificate of Deposit (CD) that will pay her 3.54% annually.
how to get quedtion 7 &8?
Bernadette has an opportunity to invest $20,000 in a Certificate of Deposit (CD) that will pay her 3.54% annually. When the CD matures in 9 years, how much will Bernadette receive? Note: CD's only pay interest at the end of the period. 7) Assume the same facts as in 6) above, except the interest will be compounded semiannually. When the CD matures in 9 years, how much will Bernadette receive? 8) Assume the same facts as in 6) above, except the interest will be compounded monthly. When the CD matures in 9 years, how much will Bernadette receive Step by Step Solution
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