3 years ago

3. Maureen invested $5,000 in a 8-year CD

Mathematics

1 answer:

murzikaleks [220]3 years ago

3 0

Answer:

6,881.9755

Step-by-step explanation:

A = P(1 + r/n)^nt

= 5000(1 + $\frac{.04}{12}$ )^12(8)

= 5000(1.00333)⁹⁶

= 5000(1.37639)

= 6,881.9755

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