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

Question

makvit [3.9K]

4 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] · Answer 1 · 2021-12-28T11:10:34+03:00

tino4ka555 [31]4 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] · Answer 2 · 2021-12-28T13:24:32+03:00

Evgesh-ka [11]4 years ago

4 0

Answer:

$328.14

Step-by-step explanation:

apex