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anonymous

  • one year ago

You bought a 23 year Certificate of Deposit for $25,924 that has an interest rate of 2.45% compounding daily. How much will the total worth of your CD be after 23 years? what am I doing wrong?

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  1. anonymous
    • one year ago
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    \[25,924\times2.45=63,513.80\times23=1,460,817.40\]

  2. anonymous
    • one year ago
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    I believe that that is how you are going to solve it please let me know if it is right

  3. anonymous
    • one year ago
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    \[A=25924\left( 1+\frac{ 2.45 }{ 100 } \right)^{23}=?\]

  4. anonymous
    • one year ago
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    this is the answer...$45,542.70 but I keep coming up with 45235.26

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