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t. How much would be the total value of your investment at the maturity date?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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Question

Assume you just received a monetary gift of $1,000, and decided to invest it in a certificate of Deposit (CD) for 5 years, at a steady annual yield of 3.5 percent. How much would be the total value of your investment at the maturity date?

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