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

Question

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] · Answer 1 · 2022-05-13T07:08:07+03:00

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] · Answer 2 · 2022-05-13T05:10:55+03:00

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>