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byron purchased a $5000 certificsye of deposit at his local bank the cd will pau him 7% simple interest at the end of 2 years how much intetest in dollars will buron have earned from his cd at the end
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byron purchased a $5000 certificsye of deposit at his local bank the cd will pau him 7% simple interest at the end of 2 years how much intetest in dollars will buron have earned from his cd at the end of two uesrs

User Dike
by
7.8k points

1 Answer

4 votes
5000(1+.07)^2
5000(1.07)^2
5000(1.14)
5,700
Your final answer should be 5,700$. If you wanna double check you would use the equation fv=bv(1+r/m)^mt
User DigviJay Patil
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8.4k points
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