To help pay for a class trip at the end of the senior year, the junior class at a high school invests $1800 from a fund-raiser in a 18-month CD paying 2.6% interest compound monthly. Determine the amount the class will receive when it cashes in the CD after 18 months.
2 answers
FV=1800(1+.026/12)^18=1871.51
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