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Mike deposits $5,000 in a three-year CD account that yields 3.5% interest, compounded weekly. What is his ending balance at the end of three years?
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Mike deposits $5,000 in a three-year CD account that yields 3.5% interest, compounded

weekly. What is his ending balance at the end of three years?

User Vlad Poltorin
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Answer:

Step-by-step explanation: This varies based on your deposit, CD rate and term length. For example, a $10,000 deposit in a five-year CD with 0.70% APY will earn about $355 in interest, while a CD with 0.01% APY, all other factors the same, only earns $5 in interest.

User Djsmith
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