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Zanzabum
3 years ago
13

The future value of Elijah's certificate of deposit (CD), for the first five years, is represented by the sequence below. The ap

plied interest is compound interest. $517.50, $535.61, $554.36, $573.76, $593.84, ... A. True B. False
Mathematics
2 answers:
Monica [59]3 years ago
8 0
First find the interest rate
R=(535.61/517.50-1)*100=3.5%
517.50 for 4 years
A=517.50(1+0.035)^4
A=593.84
Citrus2011 [14]3 years ago
5 0
The future value of Elijah's certificate of deposit (CD), for the first five years, is represented by the sequence below. The applied interest is compound interest.

<span>$517.50, $535.61, $554.36, $573.76, $593.84, ..

true

</span>
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