Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You have $700.00 to invest into a CD (Share term certificate). Look into opening a 12 month, 18 month, 24 month, 30 month, 36 month,
You have $700.00 to invest into a CD (Share term certificate). Look into opening a 12 month, 18 month, 24 month, 30 month, 36 month, and 48 month CD compounded monthly. What is the ending value of each investment and in each case how much is made off interest? (Remember: t - is always the number of years)
a) 12 Months: $
b) 18 months: $
c) 24 months: $
d) 30 months: $
e) 36 months: $
f) 48 months: $
APY Opening Deposit $0 Rate(APR) 0.25% 0.25% Account Type Checking - Variable Rate Money Market - Variable Rate Summer Cash - Variable Rate Holiday Cash - Variable Rate $250.00 1.00% 1.01% $0 0.99% 1.00% $0 0.75% 0.75% $250.00 1.00% 1.00% $250.00 1.00% 1.00% $250.00 1.00% 1.00% 1.00% 1.00% 6 Months - Fixed Rate 12 Months - Fixed Rate 18 Months - Fixed Rate 24 Months - Fixed Rate 30 Months - Fixed Rate 36 Months - Fixed Rate 48 Months - Fixed Rate 60 Months - Fixed Rate $250.00 $250.00 1.00% 1.00% $250.00 1.25% 1.25% $250.00 1.50% 1.50% $250.00 1.50% 1.50%Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started