Question
Suppose that 6000 is invested in a 6-month CD with an APY of 1.8%. Complete a through d. a). What is the corresponding APR? The
Suppose that 6000 is invested in a 6-month CD with an APY of 1.8%. Complete a through d.
a). What is the corresponding APR?
The coorsponding APR is ________%.
b. How much is the investment worth after 6 months?
After the 6 months, the investment is worth $______.
c. How much is the investment worth after 1 year? Assume that the entire amount is left in the CD to be compounded.
After 1 year, the investment is worth __________.
d. How much is the investment worth after 5 years? Assume that the entire amount is left in the CD to be compounded.
After 5 years, the investment is worth _________.
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