Look at the figure what is another name for CD
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Total = 500 * ([(1 + .07)^26 -1] / .07) -500
Total = 500 * (<span><span>4.8073529249 </span> / .07) -500
</span>Total = 500 * (<span>68.6764703562) -500
</span>Total = <span> <span> <span> 33,838.24
</span></span>
Source:
http://www.1728.org/annuity.htm
</span>
Total = 500 * (<span><span>4.8073529249 </span> / .07) -500
</span>Total = 500 * (<span>68.6764703562) -500
</span>Total = <span> <span> <span> 33,838.24
</span></span>
Source:
http://www.1728.org/annuity.htm
</span>