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Question 16 1 pts Celesta Frank wants to go on a cruise in three years. She could earn 8.25 percent compounded monthly in an account
Question 16 1 pts Celesta Frank wants to go on a cruise in three years. She could earn 8.25 percent compounded monthly in an account if she were to deposit the money today. She needs to have $12,000 in three years. How much will she have to deposit today? (Round to the nearest dollar.) O $9,504 $9,589 O $9,307 O $9,377 Question 17 1 pts Dynoxo Textiles has a cash inflow of $2 million, which it needs for a long-term investment, at the end of one year. It plans to deposit the money in a bank CD that pays daily interest at 7.50 percent. What will be the value of the investment at the end of the year? (Round to the nearest dollar.) O $2,113,072 O $2,155,752 O $2,134,306 $2,031,103
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