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*Muahhh*

  • 3 years ago

Would you make more interest by investing 5,000 dollars in a 6-month certificate of deposit (CD) at 6% interest or by investing 3,000 dollars in a 12-month CD at 4% interest? Show your work.

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  1. lexussmi12
    • 3 years ago
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    2500 x 1.03 = 2575 2575 x 1.03 = 2652.25 2652.25 x 1.03 = 2731.8175 2731.8175 x 1.03 = 2813.772 2813.772 x 1.03 = 2898.185186 2898.185186 x 1.03 = $2985.13 $2985.13 - $2500 = $485.13 made in 6 months $1000 x 1.03^12 = $1425.76 $1425.76 - $1000 = $425.76 made in 12 months

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