What is the balance after 2 years on a CD with an initial investment of $3,500.00 and a 2% interest rate?

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter14: Financing Liabilities: Bonds And Long-term Notes Payable
Section: Chapter Questions
Problem 12E: On October 1, 2019, Ball Company issued 9% bonds dated October 1, 2019, with a face amount of...
icon
Related questions
Question
100%
Help please
What is the balance after 2
years on a CD with an initial
investment of $3,500.00 and a
2% interest rate?
A. $10,150.00
B. $3,505.80
C. $3,703.00
D. $3,641.40
o3- 2021 Acellus Corporation. All Rights Reserved.
60°F CI
Transcribed Image Text:What is the balance after 2 years on a CD with an initial investment of $3,500.00 and a 2% interest rate? A. $10,150.00 B. $3,505.80 C. $3,703.00 D. $3,641.40 o3- 2021 Acellus Corporation. All Rights Reserved. 60°F CI
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning