3 years ago

A certificate of deposit whith principal $150 earns 4%annual interest for 2 years

Mathematics

1 answer:

Leokris [45]3 years ago

4 0

Answer:

$162 ( or 162.24 when interest compounded)

Step-by-step explanation:

If 4% is simple interest, $150 after 2 years

150 x (1 + 0.04 x 2) = 150 x 1.08 = 162.00

If it is compound interest

150 x (1 + 0.04)² = 150 x 1.0816 = 162.24

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