Question 4 4 pts Lori buys a $1500 certificate of deposit (CD) that earns 6% interest that compounds monthly. How much will the CD be worth in: 5 years? 10 years? 486 months?

Answers

Answer 1

Answer:

Step-by-step explanation:

5 years

[tex]1500(1+\frac{.06}{12})^{12*5}=2023.275229[/tex]

10 years

[tex]1500(1+\frac{.06}{12})^{10*12}=2729.095101[/tex]

486 months:

[tex]1500(1+\frac{.06}{12})^{486}=16935.47074[/tex]

round those as you please


Related Questions

Need help with this- Precalculus

Answers

use x^2 when x=0 because the restriction for it is "use x if x is less than or equal to 1"

when x = 0, (0)^2 will make f(x) = 0

the graph of f(x) will just be a dot at 0

Solve 7 ( x + 1 ) + 2 = 5x + 15

Answers

Answer:

x = 3

Step-by-step explanation:

7(x + 1) + 2 = 5x + 15

~Simplify left side

7x + 7 + 2 = 5x + 15

~Combine like terms

7x + 9 = 5x + 15

~Subtract 9 to both sides

7x = 5x + 6

~Subtract 5x to both sides

2x = 6

~Divide 2 to both sides

x = 3

Best of Luck!

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