Suppose that $6,500 is invested in a 5-year CD with an APY of 2.3%. Recall that this means the money must be left with the bank for 5 years, and they will guarantee an annual rate of return of 2.3% with compounding interest. Complete parts (a) through (c) below.
(a) The corresponding APR is?
(b) How much is the investment worth after 2 years?
After 2years, the investment is worth $.
(c) How much is the investment worth after 5 years?
After five years, the investment is worth. Get Finance Help Today
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