At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the nearest cent. OA. $1823.20 OB. $1920.96 OC. $1930.25 OD. $2072.31
At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the nearest cent. OA. $1823.20 OB. $1920.96 OC. $1930.25 OD. $2072.31
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a
certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the
nearest cent.
A. $1823.20
B. $1920.96
C. $1930.25
D. $2072.31
.....](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F2a6f447f-9050-4a66-b356-4e22080723e4%2F76a45d9f-058f-41cf-9fff-d5903b9a3eda%2Fhgxpgth_processed.png&w=3840&q=75)
Transcribed Image Text:At the end of every 3 months, Judy deposits $100 into an account that pays 6% compounded quarterly. After 4 years, she puts the accumulated amount into a
certificate of deposit paying 7.5% compounded semiannually for 1 year. When this certificate matures, how much will Judy have accumulated? Round the answer to the
nearest cent.
A. $1823.20
B. $1920.96
C. $1930.25
D. $2072.31
.....
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