JG Asset Services is recommending that you invest $1,200 in a 5-year certificate of deposit (CD)...
JG Asset Services is recommending that you invest $1,200 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?
Select the correct answer.
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Homework Answers
Value at maturity is its Future value which is:
=FV(rate,nper,pmt,pv)
=FV(3.5%,5,0,-1200)
=1425.22
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Appendix A
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How much interest will you earn if the interest is left to
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$
How much interest will you earn if the interest is withdrawn
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$
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