Solve the problem.You just put $3601 in a CD that is expected to earn 16% compounded quarterly, and  in a savings account that is expected to earn 2% compounded quarterly. Determine when, to the nearest year, the values of your two investments will be the same.

A. 2 years
B. 5 years
C. 3 years
D. 6 years


Answer: B

Mathematics

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