question archive Laura deposits $10000 in a CD account at 3
Laura deposits $10000 in a CD account at 3
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Laura deposits $10000 in a CD account at 3.5% interest compounded quarterly. Her friend, Sam, wants to put in a smaller amount of money so that his account will equal hers in 50 years, yet his interest rate is only 2.8% interest (compounded quarterly). How much money does he need to put into his account so that they have the same amount of money?
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