marvin07
30.07.2019 •
Mathematics
Graduation is 3 years away and you want to have $850 available for a trip. if your bank is offering a 3-year cd (certificate of deposit) paying 2% simple interest, how much do you need to put in this cd to have the money for your trip?
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Ответ:
We need to put $801.88 amount in the bank.
Step-by-step explanation:
given that
t=3 yr
Need amount $850 after 3 yr so P= $850
Interest rate=2%
We know that for simple interest
Where r is the Interest rate,t is the time,A is the present amount and P is principle amount after t time.
Here given that P= $850
So now putting the values
So A=$801.88
We need to put $801.88 amount in the bank.
Ответ:
im confused
Step-by-step explanation: