Question
One bank advertises an interest rate on a certificate of deposit (CD) with a 5.6% effective annual rate. If $1000 were invested in this CD
One bank advertises an interest rate on a certificate of deposit (CD) with a 5.6% effective annual rate. If $1000 were invested in this CD today, what would be the future value in 5 years? Report the answer to at least 4 significant figures.
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Cost Benefit Analysis
Authors: Harry F. Campbell, Richard P.C. Brown
3rd Edition
1032320753, 9781032320755
