Austin deposits $2,250 into a 1-year CD at an interest rate of 2.3%, compounded daily. a. What
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Austin deposits $2,250 into a 1-year CD at an interest rate of 2.3%, compounded daily.
a. What is the ending balance after the year? Round to the nearest cent.
b. How much interest did the account earn during the year?
c. What is the annual percentage yield? Round to the nearest hundredth of a percent.
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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