SOLUTION: Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years?
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Question 693804: Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Brad invested $2,400 in a three year CD that pays four percent componded annually. What is the compound interest and amount that will be in the bank after three years?
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A(t) = P(1+(r/n))^(nt)
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A(3) = 2400(1+(r/1))^(3)
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Comment: You have 2 variables but only one equation.
Need more information.
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Cheers,
Stan H.
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