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Meadow Company wants to invest its net profits of $ 8 2 , 0 0 0 for 7 years in either a credit union or

Meadow Company wants to invest its net profits of $82,000 for 7 years in either a credit union or a local bank. The credit union provides interest of 5.50% compounded monthly, while the local bank provides interest of 6.00% compounded semi-annually.
a. What would be the maturity value of the investment under the credit union option?
$0.00
Round to the nearest cent
b. What would be the maturity value of the investment under the local bank option?
$0.00
Round to the nearest cent
c. Which of the two options will yield the highest return?
a. Credit Union
b. Local Bank

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