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To celebrate Tony's birth, his family opens a CD (certificate of deposit) with $11,000 in it. The CD earns 5.7% compounded quarterly. Tony will have
To celebrate Tony's birth, his family opens a CD (certificate of deposit) with $11,000 in it. The CD earns 5.7% compounded quarterly. Tony will have access to the money when she turns 20 old. Answer the following questions. Round answers to 2 decimal places. (A) How much money will be in the account in 20 years? Total amount: $ (B) What percentage of the money in the account will be from interest? Percentage from interest: % (C) What is the annual percentage yield (APY) for the savings account? (The APY is the actual or effective annual percentage rate which includes all compounding in the year). APY= %
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