He has \$7,800 to invest today for a period of two years.
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# Q7 please show Formula steps and explain. ThanksYour brother has asked you to help him with

choosing an investment. He has \$7,800 to invest today for a period of two years. You identify a bank CD that pays an interest rate of 0.0500 annually with the interest being paid quarterly. What will be the value of the investment in two years? Round to two decimal places.

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