MATH 109 Daily Compound Interest - WKU
Example 2. Republic Bank is advertising a six-year CD with an annual yield of 4.5%. (a) If interest is compounded daily, then what is the actual interest rate r? (b) If you deposit $40,000, then how much will you have in six years? (c) If you wanted $60,000 in six years, then how much should you have invested? BB&T is advertising a six-year CD ... ................
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