Essay
Suppose you invest $5,000 for 5 years.The interest rate for the first 2 years is 4.7%,5.2% for year 3 and 5.4% for the final 2 years.Assuming interest compounds annually,what would your investment have returned in those 5 years?
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Y2 = $5,000(1 + 0.047)2 = $5,481...View Answer
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