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This is a 4th grade level Ethan puts $1200 into a Certificate of Deposit (CD) account that earns 2.1% interest each year. What will be the interest of the CD account earned afte…

This is a 4th grade level Ethan puts $1200 into a Certificate of Deposit (CD) account that earns 2.1% interest each year. What will be the interest of the CD account earned afte…
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This is a 4th grade level

Ethan puts $1200 into a Certificate of Deposit (CD) account that earns 2.1% interest each year. What will be the interest of the CD account earned after 5 years? Round to the nearest cent (hundredths place).

User Sarath TS
by
7.9k points

1 Answer

6 votes

Answer:

126

Explanation:

1200 x .021=25.20 interest per year

25.20x5=126

assumes no compounding

User Ortwin Angermeier
by
8.5k points
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