Asked by Wanda

How do you figure out these kind of problems. Lisa is depositing $2700 in a 6 month CD that pays 3.71% interest. How much will she accrue if she holds the CD till maturity?
Answered by Ms. Sue
Interest = Principal * Rate * Time

I = 2,700 * 0.0371 * 0.5

I = 50.09
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