Mathematics, 05.10.2021 14:00 Jxsolvez
Interest rates fluctuate with the economy. In the 1980's, the highest CD interest rate was over 16%. By 2017,
the highest CD interest rates were approximately 2%.
A. If $1,000 is invested at 16% interest, compounded continuously, for 5 years, what is the ending balance?
Round to the nearest cent.
B. If $1,000 is invested at 2% interest, compounded continuously, for 5 years, what is the ending balance?
Round to the nearest cent.
C. What is the difference between the two ending balances?
Answers: 1
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Interest rates fluctuate with the economy. In the 1980's, the highest CD interest rate was over 16%....
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