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OpenStudy (anonymous):
Quinn and Julius inherited $50,000 each from their great-grandmother’s estate. Quinn invested her money in a 5-year CD paying 1.6% interest compounded semiannually. Julius deposited his money in a money market account paying 1.05% compounded monthly. How much total money will Quinn have after 5 years?
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OpenStudy (joannablackwelder):
Do you know the formula for compounding interest?
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