bryantvari bryantvari

09-10-2022
Mathematics

Answered

6. A certificate of deposit (CD) is a savings instrument that many banks offer. It usually gives a
higher interest rate, but you cannot access your investment for a specified length of time.
Suppose you deposit $3000 in a CD paying 6% interest, compounded monthly. How much will
you have in the account after 20 years?

Answer :

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