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Kamila [148]
3 years ago
10

Stephen Thublin invests $1,000,000 in a 45-day certificate of deposit with 6.55% interest. What is the total interest income fro

m the investment?
Business
1 answer:
givi [52]3 years ago
6 0

Answer:

$8187

The CD has a rate of 6.55%. This rate is always annual. then, the interest paid for a year is $65.500. (360 days)

As the CD has a term of 45 days only the final interest paid is $8187

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