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3 years ago

14

byron purchased a $5000 certificsye of deposit at his local bank the cd will pau him 7% simple interest at the end of 2 years ho

w much intetest in dollars will buron have earned from his cd at the end of two uesrs

1 answer:

Mekhanik [1.2K]3 years ago

4 0

5000(1+.07)^2
5000(1.07)^2
5000(1.14)
5,700
Your final answer should be 5,700$. If you wanna double check you would use the equation fv=bv(1+r/m)^mt

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