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solmaris [256]
2 years ago
3

3. Maureen invested $5,000 in a 8-year CD

Mathematics
1 answer:
murzikaleks [220]2 years ago
3 0

Answer:

6,881.9755

Step-by-step explanation:

A = P(1 + r/n)^nt

   = 5000(1 + \frac{.04}{12})^12(8)

   = 5000(1.00333)⁹⁶

   = 5000(1.37639)

    = 6,881.9755

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