Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily. a. What is
Question:
Joanne deposits $4,300 into a 1-year CD at a rate of 2.3%, compounded daily.
a. What is her ending balance after the year, to the nearest cent?
b. How much interest does she earn, to the nearest cent?
c. What is her annual percentage yield to the nearest hundredth of a percent?
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The interest accrued on the principal is 100 Using the formula A P 1 r...View the full answer
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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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