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makvit [3.9K]
3 years ago
8

Suppose you buy a CD for $300 that earns 3% APR and is compounded quarterly. The CD matures in 3 years. How much will this CD be

worth at maturity?
A. $328.14
B. $309.12
C. $309.10
D. $303.01
help?,
Mathematics
2 answers:
tino4ka555 [31]3 years ago
8 0
<span>Amount spent at start C = $300 Rate = 3% = 0.03 Number of periods = 3 years Future Value at the maturity FV = 300 x (1 + 0.03) ^3= 300 x 1.0927 = 328 The correct answer would be 328.14</span>
Evgesh-ka [11]3 years ago
4 0

Answer:

$328.14

Step-by-step explanation:

apex

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This shows that Billy will have $12, 168.25 after 12 years

<h3>Compound interest</h3>

The formula for calculating the compound interest is expressed as:

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Learn more on compound interest here: brainly.com/question/24924853

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