Answered: Gracie bought a CD for $810 that earns…

Gracie bought a CD for $810 that earns a 2.9% APR and is compounded quarterly. The CD matures in 5 years. How much will this CD be worth at maturity? $963.34 $909.25 $883.35 $935.90

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

17. Gracie bought a CD for $810 that earns a 2.9% APR and is compounded quarterly. The CD matures in 5 years. How much will this CD be worth at maturity? $963.34 $909.25 $883.35 $935.90

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