Register

15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value of the certificate of deposit was $3,100. How much did M…

15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value of the certificate of deposit was $3,100. How much did M…
asked 178k views
3 votes
15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value

of the certificate of deposit was $3,100. How much did Madison deposit originally?

asked
User Belladonna
by
8.5k points

1 Answer

4 votes

Answer:

2455.49

Explanation:


3100=x(1+.06)^4\\x=2455.490356

answered
User Harley Holcombe
by
8.7k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!