Which interest-bearing account is best for people who wont neeed access to there money for several months or longer a. saving account b.certificate of deposit c.checking account d.credit card
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Ответ:
Certificate of deposit is the best interest bearing account for people who doesn't need their money for several months. It is a written document from the bank that it has received money from a person for a long time period.
Ответ:
$3,208
Explanation:
The computation of the future value is shown below;
As we know that
Future valie = Present value × (1 + rate of interest)^number of years
where
Present value is $2,500
Rate of interest = 2.5% ÷ 4 = 0.625%
And, the time period is = 10 × 4 = 40
So, the future value is
= $2,500 × (1 + 0.625%)^40
= $3,208