You deposit $10,000 in a certificate of deposit that pays interest of 4.25% per annum. What amount...

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Finance

You deposit $10,000 in a certificate of deposit thatpays interest of 4.25% per annum.
What amount will your deposit grow to after five yearsif the bank compounds interest:
a. Annually
b. Semi-Annually
c. Quarterly
d. Monthly
e. Daily
Please show all your work and explain youranswers.

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Answer a Amount Invested 10000 Annual Interest Rate 425 Period 5 years Future Value Amount Invested 1 Interest RatePeriod Future Value 10000 104255 Future Value 1231347 Answer b Amount Invested 10000 Annual See Answer

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You deposit $10,000 in a certificate of deposit thatpays interest of 4.25% per annum.What amount will your deposit grow to after five yearsif the bank compounds interest:a. Annuallyb. Semi-Annuallyc. Quarterlyd. Monthlye. DailyPlease show all your work and explain youranswers.