Question
Rachel wants to have $4,200.00 in 30 months. Her bank is offering her a Certificate of Deposit, a special savings account, that earns 2.5% compounded
Rachel wants to have $4,200.00 in 30 months. Her bank is offering her a Certificate of Deposit, a special savings account, that earns 2.5% compounded weekly. How much does she need to deposit now to reach her goal? Round your answer up to the nearest penny. Assume the interest rate does not change while the account is open
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Managerial Accounting
Authors: Karen W. Braun, Wendy M. Tietz
3rd edition
132890542, 978-0132890540
