Question
To help pay for new costumes for a play, a theater invests $1900 in a 42-month CD paying 2.1% interest compounded monthly. Determine the amount
To help pay for new costumes for a play, a theater invests $1900 in a 42-month CD paying 2.1% interest compounded monthly.
Determine the amount the theater will receive when it cashes in the CD after 42 months.
Brent Pickett borrowed $2000 from his brother Dave. He agreed to repay the money at the end of 3 years, giving Dave the same amount of interest that he would have received if the money had been invested at 3.25% compounded quarterly. How much money did Brent repay his brother?
Determine the effective annual yield for $1 invested for 1 year at 7.9% compounded semiannually.
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