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extra_problems_2

# 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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