Question
Assume a 30-month CD purchased for pays simple interest at an annual rate of 5.5%.
1. How much total interest does it earn?
2. What is the balance at maturity?
(2 decimal places)
1. How much total interest does it earn?
2. What is the balance at maturity?
(2 decimal places)
Answers
Ms. Sue
What is the initial cost of the CD?
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