Answer:
simple interest: $3330
compound interest: $6339.08
Step-by-step explanation:
It can transform in ABCDE
Answer:
The numbers increase by 3
Step-by-step explanation:
The difference between all the numbers in the sequence have a gap of 3
9 and 12 --gap of 3
12 and 15--gap of 3
18 and 21--gap of 3
21 and 24--gap of 3
9514 1404 393
Answer:
$13,916.24
Step-by-step explanation:
First, we need to find the value of the CD at maturity.
A = P(1 +rt) . . . . simple interest rate r for t years
A = $2500(1 +0.085·3) = $2500×1.255 = $3137.50
__
Now, we can find the value of the account with compound interest.
A = P(1 +r)^t . . . . . rate r compounded annually for t years
A = $3137.50 × 1.18^9 = $13,916.24
The mutual fund was worth $13,916.24 after 9 years.
