SOLUTION: ted is investing $13,000 in a cd that pays 7% annual interest. what will be the cd's worth in 5 years.

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Question 781668: ted is investing $13,000 in a cd that pays 7% annual interest. what will be the cd's worth in 5 years.
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
ted is investing $13,000 in a cd that pays 7% annual interest. what will be the cd's worth in 5 years.
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Assuming you are getting compounded interest you would get:
A(5) = 13000(1.07)^5 = $18233.17
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Cheers,
Stan H.
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