Question
Suppose you buy a two-year CD for $10,000 from First Command Bank.
Assume monthly compounding. Use the APR from the below Table 4.1 and the compound interest formula to determine how much interest the CD earns for you at maturity.
The Table says APR is 3.84%
Assume monthly compounding. Use the APR from the below Table 4.1 and the compound interest formula to determine how much interest the CD earns for you at maturity.
The Table says APR is 3.84%
Answers
Ms. Sue
See the answer I posted for your last question.