planetjanetlee planetjanetlee

17-03-2017
Mathematics

Answered

Cristiana uses $25,000 to purchase a 25 month CD (certificate of deposit) that pays 2.47% compounded monthly.

AWhat is her investment worth at the end of 25 months?
BHow much interest did she earn?

Verified Answer :

Anonymous Anonymous

17-03-2017

25000×.0247=617.5

617.5×25=15,437.5

25,000+15,437.5=40,437.5

her investment was worth 40,437.5
she earned 15,437.5

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