Use the given information to answer the questions for the CD.

Maturity	Nominal Rate	Compounding Method	Minimum Investment
9 months	3.03%	daily	$800

(a) Each time interest is compounded, what is the percentage gain in the CD's value? (Round your answer to four decimal places.)
%

(b) What is the future value of the CD when it matures, assuming the minimum amount is invested? (Round your answer to two decimal places.)
$

(c) What is the average rate of change of the investment from the time when the CD is purchased until the time it matures? (Round your answer to two decimal places.)
$ per year

(d) What is the APY for the CD? (Round your answer to two decimal places.)
APY = %

(e) What initial investment would be required for the CD to be worth $4000 when it matures? (Round your answer to two decimal places.)
$

(f) How much more money would the CD be worth if the interest was compounded continuously instead of periodically? (Assume the minimum amount is invested. Round your answer to two decimal places.)

Answer rating: 100% (QA)

a Each time interest is compounded what is the percentage gain in the CDs value Round your answer to four decimal places The percentage gain in the CD... View the full answer