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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
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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
7.1k points

2 Answers

6 votes

Answer:

it is $128.94

Explanation:

User Andrewle
by
7.3k points
3 votes

Answer: $128.94

Explanation:

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User Daniel Dickison
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7.8k points
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