Emily put $3000.00 in a 2 year CD paying 4% interest compounded monthly. After 2 years she withdrew all her money. What is the amount of the withdrawl?

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asked Aug 24, 2021 128k views

4 votes

Emily put $3000.00 in a 2 year CD paying 4% interest compounded monthly. After 2 years she withdrew all her money. What is the amount of the withdrawl?

Mathematics
high-school

Mike Kushner asked

by Mike Kushner

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1 Answer

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Answer:

A=3244.8 dollars

Explanation:

A=p(1+r)^t

A=3000(1+0.04)^2

A=3244.8 dollars

Asvd answered Aug 28, 2021

by Asvd

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