Multiple Choice
Solve the problem.
-You just put $1650 in a CD that is expected to earn 9% compounded quarterly, and $30,000 in a savings account that is expected to earn 4% compounded semiannually. Determine when, to the
Nearest year, the values of your two investments will be the same.
A) 76 years
B) 41 years
C) 23 years
D) 59 years
Correct Answer:
Verified
Correct Answer:
Verified
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