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Consider a CD paying a 5.5​% APR compounded monthly. ​(a) Find the periodic interest rate. ​(b)...

Consider a CD paying a 5.5​% APR compounded monthly.

​(a) Find the periodic interest rate.

​(b) Find the future value of the CD if you invest $3000 for a term of five yeaR

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Answer #1

(a) given apr= 5.5%

periodic interest rate= 5.5/12

= 0.458%

(b)

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