Today I deposited $100,000 into a three-year stepped certificate of deposit. It pays annual compound interest of

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Today I deposited $100,000 into a three-year "stepped certificate of deposit." It pays annual compound interest of 5% for the first year, 6% for the second year, and 7% for the third year. Note you receive interest on the interest.

What is the value at the end of the three years?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: Oct 06, 2023 07:56 AM

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Today I deposited $100,000 into a three-year stepped certificate of deposit. It pays annual compound interest of

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Income Tax Fundamentals 2013

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