Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31, Mia invested $1,300 in a three-month CD that pays 2.81%. Al the end of the year, how much interest will Mia have eamed, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is $ (Round to the nearest cent)
Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31, Mia invested $1,300 in a three-month CD that pays 2.81%. Al the end of the year, how much interest will Mia have eamed, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is $ (Round to the nearest cent)
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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Transcribed Image Text:Interest Earned. On June 1, Mia deposited $2,700 in an MMDA that pays 4% interest. On October 31, Mia invested $1,300 in a three-month CD that pays 2.81%. At the end of the year, how much i
interest will Mia have eamed, assuming she hasn't taken anything out of the money market deposit account?
Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is $. (Round to the nearest cent)
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