There are 2 factors in this expression
21 I think cause you use pemdas
CD = certificate of deposit (an investment)
Interest rate, i = 10% per annum (simple interest)
Principal, P = $2000 (present value)
Period, T = 3 months = 0.25 year
Simple interest formula
Interest earned = Pit
=2000*0.10*0.25
=$50
Balance at maturity (amount that investor gets after three months)
=$2000+$50
=$2050
Its $13.79..... hopefully it helps
120657Step-by-step explanation:
