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Meadow Company wants to invest its net profits of $ 9 4 , 0 0 0 for 5 years in either a credit union or
Meadow Company wants to invest its net profits of $ for years in either a credit union or a local bank. The credit union provides interest of compounded monthly, while the local bank provides interest of compounded semiannually. Calculate the maturity value of the investment with:
a Credit Union:
Round to the nearest cent
b Local Bank:
Round to the nearest cent
c Which of the two options will yield the highest returns?
a Credit Union
b Local Bank
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