Question
Must neatly hand write or type out answer must show all work For A-C A. An investor places $1,000 in a Certificate of Deposit that
Must neatly hand write or type out answer must show all work For A-C
A. An investor places $1,000 in a Certificate of Deposit that pays 1.5% annual interest. If interest is compounded annually, how much will the investor have after three years?
B. Using the same information in problem 1, how much would the investor have if interest was compounded quarterly?
C. An investor has $1,000 and wants to open a Certificate of Deposit. If Citibank offers a CD that pays interest semiannually at a rate of 1.3% while Chase offers a CD that pays interest at a rate of 1.25% monthly, which CD should the investor buy? Why?
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College Physics
Authors: Raymond A. Serway, Jerry S. Faughn, Chris Vuille, Charles A. Bennett
7th Edition
978-0495113690
