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[See Solution] Investment Presently, the Smiths have $50,000 to invest for 18 months. They have two options open to them: Invest the money in a certificate

Question: Investment Presently, the Smiths have $50,000 to invest for 18 months. They have two options open to them:

  1. Invest the money in a certificate paying interest at the nominal rate of \(5 \%\) compounded quarterly;
  2. Invest the money in a savings account earning interest at the annual rate of \(4.5 \%\) compounded continuously. How much money will they have in 18 months with each option?

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Solution: The downloadable solution consists of 1 pages
Deliverable: Word Document


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