Question: Please answer a-d Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan
Please answer a-d
Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your own investment period. Jonathan has $7,000 for his CD investment. If the bank is offering a 5.5% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. two-year investment period? b. five-year investment period? c. ten-year investment period? d. twenty-year investment period? a. How much will the $7,000 CD investment at 5.5% interest rate be worth at maturity if Jonathan picks a 2-year investment period? $ (Round to the nearest cent.)
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