You are a Personal Banker at the Lowell Institute for Savings and your bank is running a
Fantastic news! We've Found the answer you've been seeking!
Question:
You are a Personal Banker at the Lowell Institute for Savings and your bank is running a special rate on High Net Worth Certificates of Deposit (CDs). Customers who deposit $100,000 in a 4 Year CD will get 7.4% annual interest with monthly compounding if they leave it in for the whole time.
A customer who cannot do simple math asks you "So if I deposit $100,000 today, exactly how much money will be in my account when this matures?"
Related Book For
South Western Federal Taxation 2018 Essentials Of Taxation Individuals And Business Entities
ISBN: 9781337386173
21st Edition
Authors: William A. Raabe, James C. Young, Annette Nellen, David M. Maloney
Posted Date: