15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value of the certificate of deposit was $3,100. How much did Madison deposit originally?

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asked Oct 10, 2022 178k views

3 votes

15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value

of the certificate of deposit was $3,100. How much did Madison deposit originally?

Mathematics
high-school

Belladonna asked

by Belladonna

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4 votes

Answer:

2455.49

Explanation:

$3100=x(1+.06)^4\\x=2455.490356$

Harley Holcombe answered Oct 16, 2022

by Harley Holcombe

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