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P3-2 (similar to) s Question Help Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own
P3-2 (similar to) s Question Help Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $8,500 for his CD investment. If the bank is offering a 5% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. three-year investment period? b. six-year investment period? C. eight-year investment period? d. fifteen-year investment period? a. How much will the $8,500 CD investment at 5% interest rate be worth at maturity if Jonathan picks a 3-year investment period? $(Round to the nearest cent.)
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