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What is the effective annual rate of the saving account

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Reference no: EM132796960

You invest $100 into a CD offering 5% APR with semi-annual compounding (i.e., two times per year).

1) How much money will you have in the account after 1 year?

2) How much money will you have in the account after 2 years?

3) What is the effective annual rate of the saving account?

Reference no: EM132796960

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