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Tara deposits $5,000 in a certificate of deposit. The annual interest rate is 7%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years…
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Tara deposits $5,000 in a certificate of deposit. The annual interest rate is 7%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years…
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Jan 10, 2023
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Tara deposits $5,000 in a certificate of deposit. The annual interest rate is 7%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years? round your answer to two decimal places.
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Answer: $10048.31
Step-by-step explanation:
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