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Determine value of the investment in two years

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Reference no: EM132634607

Your brother has asked you to help him with choosing an investment. He has $4,100 to invest today for a period of two years. You identify a bank CD that pays an interest rate of 0.0500 annually with the interest being paid quarterly. What will be the value of the investment in two years? Round to two decimal places.

Reference no: EM132634607

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