asked 214k views
2 votes
Audrey deposited $10,000 into a 3-year certificate of deposit that earned 10% annual interest, compounded annually. Audrey made no additional deposits to or withdrawals from the certificate of deposit. What was the value of the certificate of deposit at the end of the 3-year period?

A. $13,000
B. $13,300
C. $13,310
D. $13,401

asked
User Jredburn
by
8.0k points

1 Answer

1 vote

Answer: C

Step-by-step explanation:

10000(1+0.10)³
=10000(1.10)³
=10000*1.331
=13310

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