Question
Suppose you found a CD that pays 5.1% interest compounded monthly for 5 years.
1.If you deposit $11,000 now, how much will you have in the account in 5 years? (Round to the nearest cent.)
$
2.What was the interest earned? (Round to the nearest cent.)
s
3.Now suppose that you would like to have $20,000 in the account in 5 years. How much would you need to
deposit now? (Round to the nearest cent.)
Answer for all three pls!!
1.If you deposit $11,000 now, how much will you have in the account in 5 years? (Round to the nearest cent.)
$
2.What was the interest earned? (Round to the nearest cent.)
s
3.Now suppose that you would like to have $20,000 in the account in 5 years. How much would you need to
deposit now? (Round to the nearest cent.)
Answer for all three pls!!