Question

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?

Answer 1

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...