Roland earned $1,500 last summer. If he deposited the money in a certifi- cate of deposit that earns 4% Interest compounded monthly, how much money will he have next summer?

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asked Jul 9, 2021 11.4k views

1 vote

Roland earned $1,500 last summer. If he deposited the money in a certifi-

cate of deposit that earns 4% Interest compounded monthly, how much
money will he have next summer?

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middle-school

Karl Schultz asked

by Karl Schultz

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Answer:

1561.11 dollars.

Explanation: A = 100 (1 plus .03 over 4) 4.3 A = 100 (1.0075) 12

ARH answered Jul 13, 2021

by ARH

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