angelvigillove angelvigillove

15-12-2022
Mathematics

Answered

40 PTS
TWO PART QUESTION NEED! :)))

You decide to invest $500 into a 4-year CD that pays 2.85% interest
compounded monthly.

Use the compound interest formula:A = P(1 + r/n) ^nt to give:

Part a. The future value in 4 years.
Part b. The interest gained in 4 years.

Answer :

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