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17 September, 23:21

A certificate of deposit earns 1% interest every three months. The interest is compounded.

What is the value of a $35,000 investment after 6 years?

$37,153.21

$39,438.88

$44,440.71

$56,295.30

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Answers (1)
  1. 18 September, 01:55
    0
    Answer is A

    A=p (1+r/n) n*t A=35.000 (1+0.01/1) 1*6 A=35.000*1.01 to d power of 6 A=35.000*1.06152. A=37.15321
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