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Question
Submitted by vadlov on Thu, 2012-05-10 12:58
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answered 3 time(s)
vadlov bought 53 out of 62 answered question(s)

Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 4.0% interest, compounded quarterly....

Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 4.0% interest, compounded quarterly. How much will you have when the CD matures?

Answer
Submitted by shahimermaid on Thu, 2012-05-10 13:36
teacher rated 377 times
4.352785
price: $1.00

the answer is explained in the simplest way

body preview (21 words)

xxxxxxxx
xx xxxxxx
r =4.0% interest, compounded xxxxxxxxxx

xxx much xxxx xxx have xxxx xxx xx xxxxxxxx
x =P(1+r/n)^4.5

1500(1+0.04/4)^20
x 1830


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Answer
Submitted by neel on Thu, 2012-05-10 13:48
teacher rated 523 times
4.17973
price: $1.00

answer for $1

body preview (19 words)

xxxxxxxxx xx xxx xxx xxxxxxx
Rate x per Annum [R] %4
Time Years [n] =5
Compound xxxxxxxx [C.I.] =$330.29
Total xxxxxxxxxxxxxxx


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Answer
Submitted by neel on Thu, 2012-05-10 13:47
teacher rated 523 times
4.17973
price: $5.00

answer

body preview (17 words)

Principal or xxx [P] = $1500
Rate x xxx Annum xxxx %4
Time Years xxxxxx
xxxxxxxx xxxxxxxx xxxxxxxxxxxxxxx
Total xxxxxxxxxxxxxxx


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