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Answer:
The money she will end up earning in interest on the cd = $11,352.90
Step-by-step explanation:
The formula for getting the accumulated amount(compounded) is;
Where
A = Accumulated amount
P = principle (deposit)
r = interest rate and
n = no of times interest applied per time period.
The interest is compounded quarterly so in one year it will be 4 times
In 5 years
n = (5×4)-3 = 17 (as she will withdraw 3 month before the completion of five years)
A = ^17
= 7100( 1 + 0.028)^17
= 7100(1.028)^17
= 7100 * 1.599
= 11,352.90
Therefore the money she will end up earning in interest on the cd = $11,352.90
Try making a grid like this. Apologies for the terrible drawing and handwriting. It represents all possible results of rolling two dice and summing their values. The blue column and yellow row represent the values of each die, and the green numbers reptesent their sums.
First, you can see that there are 36 possible values. Second, it's easy to see how many results are greater than 9, since they're all in one corner. And last, you can see just how many are even and how many are odd. Remember to reduce your fractions in the end.
First, you can see that there are 36 possible values. Second, it's easy to see how many results are greater than 9, since they're all in one corner. And last, you can see just how many are even and how many are odd. Remember to reduce your fractions in the end.