suppose you found a CD that pays 3.3% interest compounded monthly for 7 years. a. If you

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suppose you found a CD that pays 3.3% interest compounded monthly for 7 years.

a. If you deposit $8,000 now, how much will you have in the account in 7 years? (round to the nearest cent.)

b. what is the interest earned?

c. now suppose that you would like to have $20,000 in the account in 7 years. How much would you need to deposit now? (round to the nearest cent.)

Related Book For answer-question

Thomas Calculus Early Transcendentals

ISBN: 9780321884077

13th Edition

Authors: Joel R Hass, Christopher E Heil, Maurice D Weir

Posted Date: Jun 27, 2024 01:20 PM

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suppose you found a CD that pays 3.3% interest compounded monthly for 7 years. a. If you

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Thomas Calculus Early Transcendentals

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