OpenStax, Contemporary Mathematics §6.4 Compound Interest · Example 1 · Arithmetic · Money & interest

Compound Interest · Example 1

Abena invests $1,000 in a CD (certificate of deposit) earning 4% compounded annually. How much will Abena’s CD be worth after 3 years?

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OpenStax, Contemporary Mathematics · §6.4 Compound Interest · Example 1

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