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Can someone help me with this problem please. Show your work .

Can someone help me with this problem please. Show your work .-example-1

1 Answer

5 votes

Answer:

The correct answer is option C. 25171.54

Explanation:

It is given that,

Sabrina Duncan invests $20,000 in a 4 year certificate of deposits that earns interest at an annual rate of 5.75% compounded daily.

Also given that the amount per $1.00 is 1.258577

To find the amount

Here the investment amount = $20,000

amount per $1.00 is 1.258577

Therefore amount $20,000 he get in given by,

Amount = $20,000*1.258577 = 25171.54

Therefore the matured amount $25171.54

Option C is the correct answer.


User Gary Samad
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