Question

Sal deposited $5000 in a 60-month CD the paid 5% interest compounded annually. What was the total value of the CD after 5 years?

Answer 1

Are you asking compound interest?
=5000(1+5/100)^5
=6381.407
Idk is this what u askin?

Answer 2

Compute the periodic interest rate by dividing the base annual percentage rate by the number of times each year interest is calculated and added to the CD's balance (called compounding). For example, if interest on the CD is compounded monthly, divide the base percentage rate by 12 to find the periodic interest rate.