document.write( "Question 1154683: How much money in dollars should a person deposit in a 6-months certificate of deposit CD that earns 6% simple interest in order to have $5000 when the CD matures at the end of the 6 months? Round your answer up to the nearest cent. \n" ); document.write( "

Algebra.Com's Answer #777154 by ikleyn(52810) $\"\"$ $\"About$

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document.write( "5000 = x*(1 + 0.06*0.5).    <<<---=== in this formula, 0.5 represents 6 months (0.5 of an year).\r\n" );
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document.write( "5000 = x*1.03\r\n" );
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document.write( "x =  = 4854.37 dollars.    ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "On simple interest, see solved problems in the lesson\r
\n" ); document.write( "\n" ); document.write( " - Simple interest percentage problems \r
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