Answer:
D
Step-by-step explanation:
Took the test
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
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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.
The 18th sequence is - 41
Answer: $2500
Step-by-step explanation:
4% of what number = 100
0.04 x ? = 100
divide both sides by 0.04
? = 100/ 0.04
= $2500
