document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=391006>Question 391006</A>: <I><SPAN STYLE=\"word-break: break-all;\"> if I bought a 3 month CD for $5,000.00 @ 5.65 APY, what would I earn for my 3 months, and what if I left it in all year?<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #277301 by </B><A HREF=/tutors/aboutme.mpl?userid=Alan3354><B>Alan3354(69443)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Alan3354><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=Alan3354><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=277301\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> if I bought a 3 month CD for $5,000.00 @ 5.65 APY, what would I earn for my 3 months, and what if I left it in all year?<BR>\n" );
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document.write( "Assuming the interest is oompounded quarterly:<BR>\n" );
document.write( "FV = 5000*(1 + 0.0565/4)<BR>\n" );
document.write( "FV = $5070.625<BR>\n" );
document.write( "Banks always round down, --> $5070.62 for 3 months<BR>\n" );
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document.write( "For 1 yr:<BR>\n" );
document.write( "FV = 5000*(1 + 0.0565/4)^4<BR>\n" );
document.write( "= $5288.54<BR>\n" );
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