Money growth. Refer to Problem 49. The following rates for 60-month certificates of deposit were also taken from BanxQuote Web sites:
(A) Oriental Bank & Trust, 5.50% compounded quarterly
(B) BMW Bank of North America, 5.12% compounded monthly
(C) BankFirst Corporation, 4.86% compounded daily Compute the value of $10,000 invested in each account at the end of 5 years.
Reference of Problem 49:
Money growth. BanxQuote operates a network of Web sites providing real-time market data from leading financial providers. The following rates for 12-month certificates of deposit were taken from the Web sites:
(A) Stonebridge Bank, 5.40% compounded monthly
(B) DeepGreen Bank, 4.95% compounded daily
(C) Provident Bank, 5.15% compounded quarterly
Compute the value of $10,000 invested in each account at the end of 1 year. 50.
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