Gabe deposits $7,000 in a certificate of deposit. The annual interest rate is 4%, and the interest will be compounded monthly. How much will the certificate be worth in 5 years? Round your answer to two decimal places. Provide your answer below:
Gabe deposits $7,000 in a certificate of deposit. The annual interest rate is 4%, and the interest will be compounded monthly. How much will the certificate be worth in 5 years? Round your answer to two decimal places. Provide your answer below:
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Gabe deposits $7,000 in a certificate of deposit. The annual interest rate is 4%, and the interest
will be compounded monthly. How much will the certificate be worth in 5 years? Round your
answer to two decimal places.
Provide your answer below:
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