Micheal has been saving his money and wants to invest it. after doing some research has decided to invest $20,000 into certificate of deposit

Question

asked Sep 5, 2021 234k views

1 Answer

Jason Hall · Answer 1 · 2021-09-09T18:17:46+0000

Answer:

How much interest will michael earn on this cd in the first year, based on the nominal interest rate? $600

How much interest will Michael earn on this CD in the first year, based on the real interest rate? $200

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