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Nate wants to buy a CD for $1000 that earns 3% APR and is compounded quarterly for 5 years. He will be taxed on 20% of the interest that he earns. What is the total amount of in…

Nate wants to buy a CD for $1000 that earns 3% APR and is compounded quarterly for 5 years. He will be taxed on 20% of the interest that he earns. What is the total amount of in…
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Nate wants to buy a CD for $1000 that earns 3% APR and is compounded quarterly for 5 years. He will be taxed on 20% of the interest that he earns. What is the total amount of interest Nate will earn, after taxes?

User Jadine
by
8.2k points

2 Answers

6 votes

Answer:

it is $128.94

Explanation:

User Andrewle
by
8.3k points
3 votes

Answer: $128.94

Explanation:

just took this quiz

User Daniel Dickison
by
9.2k points
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