Solved: Calculate the expected return of a cd and textbook, Accounting Basics

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Calculate the expected return of a cd and textbook

Problem:

I am needing to calculate the expected return of a CD and my textbook does not cover this calculation. When asking my instructor, all I was told it was just the interest rate used and given no formula.

Please help me calculate the expected return of the following CD:

Transportation Alliance Bank (Ogden, UT) - 4 star rating, interest rate: 5.2%, compounded daily, APY: 5.34%, minimum deposit: $1,000

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Accounting Basics: Calculate the expected return of a cd and textbook

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