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Arya deposit $8000 in a 5 year cd at 2% interest compounded daily. What is aryas new balance at the time of maturity
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Arya deposit $8000 in a 5 year cd at 2% interest compounded daily. What is aryas new balance at the time of maturity

User Rodrigues
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2 Answers

5 votes

Answer:

100

Explanation:

User Kperryua
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2 votes

Answer:

Explanation:

Use the given functions to set up and simplify

2%.8000=a⋅(5yearcd)= 5ea2yrcd2%=0.02

User Robert Ngetich
by
8.8k points
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