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You've put $1500 into a 5-year CD (Certificate of Deposit) that earns 2.7% (APR) compounded monthly. How much would you have at the end of the 5 years? Write out the equati…

You've put $1500 into a 5-year CD (Certificate of Deposit) that earns 2.7% (APR) compounded monthly. How much would you have at the end of the 5 years? Write out the equati…
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You've put $1500 into a 5-year CD (Certificate of Deposit) that earns 2.7% (APR) compounded monthly. How much would you have at the end of the 5 years? Write out the equation along with your answer.

User Droider
by
7.5k points

1 Answer

13 votes

Answer:

$202 Dollars

Explanation:

compounded interest

User Amit Bhatiya
by
8.2k points
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