If the Rate of a 24-Month CD Is 0

question 45

Short Answer

If the rate of a 24-month CD is 0.80% compounded daily, how much would need to be set aside in such a CD to have $15,000 at the end of 24-month term? Round to nearest cents.

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Intranet

Computer network that is similar to the Internet but limits access to authorized users.

Investment Firms

Companies that invest pooled funds from clients, taking positions in various financial instruments for profit.

Corporate and Municipal Securities

Financial instruments issued by corporations and local government entities, respectively, to raise capital by borrowing from investors.

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Competitive bidding processes where goods or services are sold to the highest bidder, commonly used for art, antiques, real estate, and online platforms.