Macy deposited $25,000 in a money market account earning 2.5% interest, compounded semiannually. What is Macy's return on this i
nvestment after four years?
2 answers:
After 4 years the rate would have happened 4 times making the initial deposit increase 10%. 10% of 25000 is 2500. So 25000 plus 2500 is $27500.
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