SOLUTION: Frankie invested $12500in a CD that paid 3.8% compounded annually for 5 years. What was the value of his investment at the end of the fifth year?

SOLUTION: Frankie invested $12500in a CD that paid 3.8% compounded annually for 5 years. What was the value of his investment at the end of the fifth year?

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Question 287858: Frankie invested $12500in a CD that paid 3.8% compounded annually for 5 years. What was the value of his investment at the end of the fifth year?
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
12,500(1+.038)^5
12,500(1.038)^5
12,500*1.205=$15,062.49 ans.
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