Question
Lucy received a $2100 bonus. She decided to invest it in a 3-year certificate of deposit (CD) with an annual interest rate of 1.29% compounded
Lucy received a $2100 bonus. She decided to invest it in a 3-year certificate of deposit (CD) with an annual interest rate of 1.29% compounded daily.
A. Assuming no withdrawals are made, how much money is in Lucy's account after 3 years?
B. How much interest is earned on Lucy's investment after 3 years?
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Cases In Healthcare Finance
Authors: Louis Gapenski
5th Edition
1567936113, 978-1567936117
