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A bank offers a CD that pays a simple interest rate of 6.5​%. How much must you put in this CD now in order to have ​$3,000 for a​ home-entertainment center in 4 years

A bank offers a CD that pays a simple interest rate of 6.5​%. How much must you put in this CD now in order to have ​$3,000 for a​ home-entertainment center in 4 years
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A bank offers a CD that pays a simple interest rate of 6.5​%. How much must you put in this CD now in order to have ​$3,000 for a​ home-entertainment center in 4 years

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User Arlinda
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7.8k points

1 Answer

4 votes
3859.40= 1.065^4*3,000
answered
User Munazza
by
8.8k points
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