Michelle has just received an inheritance from her grandfathers estate. She will be entering college in 3

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Michelle has just received an inheritance from her grandfather’s estate. She will be entering college in 3 1/2 years, and wants to immediately purchase three compound- 2 interest investment certificates having the following maturity values and dates: $4000 at the beginning of her first academic year, $5000 at the start of her second year, and $6000 at the beginning of her third year. She can obtain interest rates of 5% compounded semiannually for any terms between three and five years, and 5.6% compounded quarterly for terms between five and seven years. What principal amount should she invest in each certificate?
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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