Daniel purchased a 1 year CD, c, from a bank. He bought it at an annual interest rate of 6%. After 1 year, Daniel cashes in the

Question

2 years ago

14

CD. What is the total amount it it worth?

1 answer:

zhenek [66] · Answer 1 · 2023-02-06T14:02:21+03:00

6 0

Step-by-step explanation:

if I understand correctly, then he bought a CD with a balance of c and an annual interest rate of 6%.

now, after this one year the CD is worth (the account balance is) c + 6% = 100% + 6% = 106% = 1.06×c