Doris put $4000 in a 2-year CD paying 6% interest, compounded monthly. After 2 years, she withdrew all her money. What was the a

Question

Alla [95]

3 years ago

15

Doris put $4000 in a 2-year CD paying 6% interest, compounded monthly. After 2 years, she withdrew all her money. What was the a

mount of the withdrawal? A. $4000.00 B. $4214.41 C. $4508.64 D. $4448.13

Mathematics

2 answers:

krok68 [10] · Answer 1 · 2022-08-05T18:10:04+03:00

krok68 [10]3 years ago

4 0

Answer:

$4508.64 -_- APEX

Step-by-step explanation:

yulyashka [42] · Answer 2 · 2022-08-05T16:57:06+03:00

yulyashka [42]3 years ago

3 0

The formula is
A=p (1+r/k)^kt
A amount of the withdrawal?
P present value 4000
R interest rate 0.06
K compounded monthly 12
T time 2 years
A=4,000×(1+0.06÷12)^(12×2)
A=4,508.64

So it's c