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
2 answers:
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
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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