Olive Inc. wants to invest its net profits of $8,000.00 for 7 years in either...
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Olive Inc. wants to invest its net profits of $8,000.00 for 7 years in either a credit union or a local bank The credit union provides interest of 7.09% compounded semi- annually, while the local bank provides interest of 8.07% compounded quarterly. Calculate the maturity value of the investment with the: a. Credit union Round to the nearest cent b. Local bank Round to the nearest cent c. Which of the two options will yield the highest returns? a. Credit Union b. Local Bank
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