Solved: Find the future value of a 18000 certificate of deposit, Finance Basics

+44 141 628 6080
[email protected]

Find the future value of a 18000 certificate of deposit

Find the future value of a $18,000 Certificate of Deposit that pays compounded interest every three months at the rate of 7% per year. The CD has a term of 5 years.

a) Calculate the FV (Future Value) using the "Future Value or Compound Amount of $1.00"

b) Calculate the FV (Future Value) using the formula: FV = P(1 + R)^N

c) How much interest was earned on the investment?

Solution Preview :

Prepared by a verified Expert

Finance Basics: Find the future value of a 18000 certificate of deposit

Reference No:- TGS02652866

Now Priced at $15 (50% Discount)

Recommended (94%)

Rated (4.6/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Asked Questions

How protein is an essential part of our health

Protein is an essential part of our health as it forms building blocks for all of our cells, which then use amino acids to repair muscle, skin, organs, and bone

Discuss about health information exchanges in the niles

Review the information about Health Information Exchanges in the Niles (2024) textbook. Match the description to the term as best as you can

Discuss education and care services national regulations

According to the Education and Care Services National Regulations, when children attend the service there must also be at least one staff

How to determine if there is a quality issue

In Lesson, we discussed how to determine if there is a quality issue to measure and access. Meaning, once you have determined there is a quality problem

What inter-professional involvement needs to be considered

You have less than 10 minutes to identify the health and social concerns/needs and interventions you believe should be considered for Lorena

Why should contraception be a reproductive right

According to our textbook, lack of access to contraception negatively impacts women Why should contraception be a reproductive right?

Problem regarding childhood education and care services

In early childhood education and care services parents must always be fully informed in advance about anything that is provided for their child

Solution Preview :

Prepared by a verified Expert

Finance Basics: Find the future value of a 18000 certificate of deposit

Reference No:- TGS02652866

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : You shared that the differentiation strategy involves

Q : Compare five major search engines from each continent based

Q : Calculate the future value of an investment of 8200 after 5

Q : You are the manager of strategic sourcing at toyota motor

Q : Find the future value of a 18000 certificate of deposit

Q : You can then determine the postal cost of each parcel by

Q : Discuss the concept of the balanced scorecard what are its

Q : You inherit 50000 and decide to invest it for 40 days

Q : The correct answers are the first 30 characters they are