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Kamila [148]
3 years ago
10

Stephen Thublin invests $1,000,000 in a 45-day certificate of deposit with 6.55% interest. What is the total interest income fro

m the investment?
Business
1 answer:
givi [52]3 years ago
6 0

Answer:

$8187

The CD has a rate of 6.55%. This rate is always annual. then, the interest paid for a year is $65.500. (360 days)

As the CD has a term of 45 days only the final interest paid is $8187

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Personal finance can be done by oneself or with the help of a personal financial manager. The objective is to help one meet both their short term and long term financial goals. Personal finance planning assists one meet expected future expenditures such as retirement while preparing them for unforeseen emergencies.

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I hope my answer helps you.

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