mikaylasimonds48256
mikaylasimonds48256 mikaylasimonds48256
  • 17-04-2020
  • Mathematics
contestada

Mike deposits $5,000 in a three-year CD account that yields 3.5% interest, compounded
weekly. What is his ending balance at the end of three years?

Respuesta :

08desesc59839
08desesc59839 08desesc59839
  • 24-09-2021

Answer:

Step-by-step explanation: This varies based on your deposit, CD rate and term length. For example, a $10,000 deposit in a five-year CD with 0.70% APY will earn about $355 in interest, while a CD with 0.01% APY, all other factors the same, only earns $5 in interest.

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