Suppose you found a CD that pays 4.3% interest compounded monthly for 7 years.? if you deposit

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Suppose you found a CD that pays 4.3% interest compounded monthly for 7 years.? if you deposit $9000 now, how much will you have in the account in 7 years (Round to the nearest cent. )

what was the interest earned (Round to the nearest cent)

Now suppose that you would like to have $20000 in the account in 7 years. How much would you need to deposit now? (Round to the nearest cent)

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Oct 31, 2023 06:06 AM

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Suppose you found a CD that pays 4.3% interest compounded monthly for 7 years.? if you deposit

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To calculate the future value of an investment with compound interest you can use the formula A P1 r... View the full answer

Principles of Finance

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