Your bank offers a 10-year certificate of deposit (cd) that pays 6.5% interest, compounded annually. if you invest $2,000 in the

Question

Pachacha [2.7K]

3 years ago

8

Your bank offers a 10-year certificate of deposit (cd) that pays 6.5% interest, compounded annually. if you invest $2,000 in the

cd, how much will you have when it matures?

Mathematics

1 answer:

Arte-miy333 [17] · Answer 1 · 2022-05-01T22:43:31+03:00

Arte-miy333 [17]3 years ago

6 0

Lily deposited $500 in a savings account. At the end of 1 year, she had earned $20 in simple interest. What interest rate did she receive? this equals 4% here is the info: Substituting the values...