2022jmoore 2022jmoore

02-11-2020
Mathematics

contestada

On Melissa's 6th birthday, she gets a $3000 CD that earns 4% interest, compounded . If the CD matures on her 16th birthday, how much money will be available?

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gardnerdanj gardnerdanj

02-11-2020

Answer:

Melissa will have $4,440.73 on her 16th birthday.

Step-by-step explanation:

Future value [tex]= 3000 * 1.04^{10} = 4,440.73[/tex]

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