SOLUTION: on melissas 6th birthday she gets a $6000 CD that earsn 5% interest, compounded semianually. If the CD matures on her 15th birthday, how much money will be available?
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Question 742333: on melissas 6th birthday she gets a $6000 CD that earsn 5% interest, compounded semianually. If the CD matures on her 15th birthday, how much money will be available?
Answer by checkley79(3341) (Show Source): You can put this solution on YOUR website!
6,000(1+.05)^9
6,000*1.05^9
6,000*1.55=$9,307.97 ans.
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