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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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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?

User Mike Kushner
by
4.4k points

1 Answer

3 votes

Answer:

A=3244.8 dollars

Explanation:

A=p(1+r)^t

A=3000(1+0.04)^2

A=3244.8 dollars

User Asvd
by
4.7k points
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