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28-04-2024
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You have $15,000 you'd like to invest in a CD. Bank A is offering a 5-year CD at an interest rate of 3.75% compounded semi-annually. Bank B is offering a 5-year CD at an interest rate of 4% compounded monthly. How much will your investment be worth if you use Bank A? (10 points) How much will your investment be worth if you use Bank B? (10 points) Which bank should you invest your money at?

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