# 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?

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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 for $1

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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

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Principal or xxx [P] = $1500

Rate x xxx Annum xxxx %4

Time Years xxxxxx

xxxxxxxx xxxxxxxx xxxxxxxxxxxxxxx

Total xxxxxxxxxxxxxxx

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