Question

Damon's father started a college fund on Damon's 8th birthday. He deposited $7500 into a CD (certificate of credit) that yields at interest rate of 0.23% compounded annually. How much money will the CD be worth when Damon turns 18 years old?

Answer 1

Answer:

7672.50

Step-by-step explanation:

7500×0.23%=17.25

17.25×10=172.50

7500+172.50=7672.50