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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Definitions:

Dental Insurance

An insurance coverage designed to pay a portion of the costs associated with dental care, ranging from routine preventive care to more complex procedures.

High-Productivity

A measure of efficiency that describes a high output level per unit of input within a given time period.

Educational Level

A measure of the highest level of schooling or training achieved by an individual, often critical for determining employment opportunities and income.

Learning Cost

The expenses related to acquiring new skills or knowledge, including both direct costs and opportunity costs.