Question

Later, karen withdrew the full amount to put toward the down payment on a new house. how much did karen withdraw from the​ account?. he decides to invest this money in a ​-year certificate of deposit​ (cd) that pays ​% interest compounded monthly. how much money will marcus receive when he redeems the cd at the end of the ​years?

Answer 1

To find out how much Karen withdrew from the account, more information is needed. To calculate the amount of money Marcus will receive when he redeems the CD, use the formula for compound interest.

Step-by-step explanation:

To find out how much Karen withdrew from the account, we need more information about the question. The question mentions Marcus, not Karen. We also need to know the initial amount deposited and the duration of the investment.

To calculate the amount of money Marcus will receive when he redeems the CD, we need to use the formula for compound interest: A = P*(1+r/n)^(nt), where A is the final amount, P is the principal amount (initial deposit), r is the interest rate (in decimal form), n is the number of times interest is compounded per year, and t is the number of years. Plug in the given values and calculate the value of A.