Solved: Day of leisure in given years, Finance Basics

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Day of leisure in given years

Problem:

At Charter One Bank, they are offering a 2 year CD at 4% compounded annually.

Now the bank offers a three year CD at 5% (simple, annual interest). If you decide to invest the money there, how much would you have after three years? If a day at SpaMadnesscosts $3000, will you get your day of leisure in three years?

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Finance Basics: Day of leisure in given years

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