Suppose you have $1,650 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.7% interest, compounded an

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answerhappygod
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Suppose you have $1,650 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.7% interest, compounded an

Post by answerhappygod »

Suppose you have $1,650 and plan to purchase a 5-year
certificate of deposit (CD) that pays 3.7% interest, compounded
annually. How much will you have when the CD matures?
Suppose a State of California bond will pay $1,000 six years
from now. If the going interest rate on these 6-year bonds is 6.4%,
how much is the bond worth today?
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