Question

d. Wind speed - Wind wane Kimberly’s family invested in a Certificate of Deposit (CD) for her when she was born. The interest is compounded quarterly.a. What will be the difference after 15 years if the CD is compounded semiannually rather than quarterly?Enter your answer.b. What will be the difference after 15 years if the CD is compounded monthly rather than quarterly?Enter your answer.

Answer 1

Answer: The basic formula for determining the compound interest is as follows: