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Two years ago, ARSARCO, Inc, invested $580,000 in a certificate of deposit that paid simple interest of 9% per year. Now the company plans to invest of 9% per year. Now the company plans to invest the total amount accrued in another certificate that pays 9% per year compound interest. How much will the new certificate be worth 2 years form now?

Econometrics, Economics

  • Category:- Econometrics
  • Reference No.:- M9494044

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