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Lori gets an offer from another bank that is also paying 6% on CD's, but is compounding interest daily. How much will the $1500 CD be worth in: 5 years?

Lori gets an offer from another bank that is also paying 6% on CD's, but is compounding interest daily. How much will the $1500 CD be worth in: 5 years?
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5 votes
Lori gets an offer from another bank that is also paying 6% on CD's, but is compounding interest daily. How much will the $1500 CD be worth in: 5 years?

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User Joey Dalu
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8.2k points

1 Answer

6 votes
In 5 years it will be worth 7,500.
answered
User Steffen Brem
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7.9k points
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