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extra_problems_2 -  5DQN WKH IROORZLQJ LQWHUHVW UDWHV...

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Unformatted text preview:  5DQN WKH IROORZLQJ LQWHUHVW UDWHV IURP ORZHVW WR KLJKHVW L  L   L   1. Sandy wins $10,000. He invests his winnings in a 4-year certificate of deposit earning 5% compounded monthly. At the end of 4 years, Sandy renews his CD for 3 more years at the then current interest rate of 5.25% compounded semi-annually. Determine the value of Sandy’s investment at the time his second CD matures. 6LGQH\ ERUURZV  7KH ORDQ LV JRYHUQHG E\ FRPSRXQG LQWHUHVW DQG WKH DQQXDO HIIHFWLYH UDWH RI GLVFRXQW LV   6LGQH\ UHSD\V  DW WKH HQG RI RQH \HDU ; DW WKH HQG RI WZR \HDUV DQG  DW WKH HQG RI WKUHH \HDUV LQ RUGHU WR H[DFWO\ SD\ RII WKH ORDQ )LQG ; ¡@ &RUUHFW $QVZHU  &RPPHQW ...
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