document.write( "Question 1070564: If I buy a cd for 5000 at 1.7 percent what will my return be on my money after five years \n" ); document.write( "
Algebra.Com's Answer #685612 by Boreal(15235) You can put this solution on YOUR website! If compounded annually, I=prt=5000*0.017*5=$425, now worth $5425 \n" ); document.write( "if compounded continuously, A=Aoe^rt, Ao=5000, r=0.017, t=5 \n" ); document.write( "A=5000*e^0.085=5000*1.089, and rounding only at the end, A=$5443.59 \n" ); document.write( "For other compoundings, the result would be in between. \n" ); document.write( " |