26-03-2024
Business

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*1. You can invest $10,000 in a certificate of deposit (CD) offered by your bank. The CD
is for 5 years and the bank quotes you a rate of 4.5%. How much will you have in 5
years if the 4.5% is
(a) an EAR?
(b) a quarterly APR?
(c) a monthly APR?

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