Investing Gifts and Scholarships Cliff Morris just
Chapter 11, Problem 11.1.155(choose chapter or problem)
Investing Gifts and Scholarships Cliff Morris just graduated from high school and has received $800 in gifts of cash from friends and relatives. In addition, Cliff received three scholarships in the amounts of $150, $300, and $1000. If Cliff takes all his gift and scholarship money and invests it in a 24-month CD paying 2% interest compounded daily, how much will he have when he cashes in the CD at the end of the 24 months?
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