You deposit s, 100 in a 2-year certificate of deposit (CD) earning 2.2% annual interest compounded daily. At the end of the 2 years, you reinvest the compound amount plus an additional $8,100 In...


You deposit s, 100 in a 2-year certificate of deposit (CD) earning 2.2% annual interest compounded daily. At the<br>end of the 2 years, you reinvest the compound amount plus an additional $8,100 In another 2-year CD. The<br>annual interest rate on the second CD is 2.8%, compounded daily. What is the compound amount when the<br>second CD matures? (Assume all years have 365 days. Round your answer to the nearest cent.)<br>2.<br>Need Help?<br>Read R<br>

Extracted text: You deposit s, 100 in a 2-year certificate of deposit (CD) earning 2.2% annual interest compounded daily. At the end of the 2 years, you reinvest the compound amount plus an additional $8,100 In another 2-year CD. The annual interest rate on the second CD is 2.8%, compounded daily. What is the compound amount when the second CD matures? (Assume all years have 365 days. Round your answer to the nearest cent.) 2. Need Help? Read R

Jun 09, 2022
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