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3 years ago

12

Allan put $7000 in a 2-year CD paying 3% interest, compounded monthly. After 2 years, he withdrew all his money. What was the am

ount of the withdrawal?

1 answer:

aliya0001 [1]3 years ago

8 0

I believe he would have $7,432 once he withdraws it. The formula is <span>A = P (1 + r/n)^<span>(nt)</span></span>

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