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Interest rate compounded annually

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You deposit $1,000 into a CD account and you plan not to withdraw any money. How much will you have in your account after 3 years if....

 

A. The ccount offers your 5% interest rate compounded annually?


B. THe account offers your 5% annual interest rate compounded every 3 months?

 

C. The account offers your 5% annual interest rate compounded every month?

 

 

Reference no: EM13271621

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