Mathematics

Millie

29 June, 07:24

Franco wants to have $750,000 when he retires in a year. If he currently has

$700,000 to put in a 1-year CD, which of these APRs and compounding

periods will allow him to reach his goal?

A. An APR of 6.91% compounded monthly

B. An APR of 6.98% compounded quarterly

C. An APR of 6.89% compounded daily

D. An APR of 6.99% compounded semiannually

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