Question

ehtan put $700 into a certificate of deposit(cd) account that earns 1.8% interest each year. What will the interest of the cd account be after 6 years

Answer 1

The interest on Ethan's CD account will be $700 * 1.8% = 12.6$ dollars after one year. Since the CD earns 1.8% interest each year, the interest will be the same amount each year, so the total interest on the CD after 6 years will be $12.6 * 6 = 75.6$ dollars. This means that the CD will be worth $700 + 75.6 = $775.6$ after 6 years.