4. A person invests $500 in a CD that yields 4% compounded semi- annually. a) What is the total amount accumulated after 5 years, to the nearest cent? b) What part of the total amount is the interest?...


4. A person invests $500 in a CD that yields 4% compounded semi-<br>annually.<br>a) What is the total amount accumulated after 5 years, to the nearest<br>cent?<br>b) What part of the total amount is the interest?<br>c) How long will it take the $500 to grow to $650 (nearest hundredth of<br>a year)?<br>

Extracted text: 4. A person invests $500 in a CD that yields 4% compounded semi- annually. a) What is the total amount accumulated after 5 years, to the nearest cent? b) What part of the total amount is the interest? c) How long will it take the $500 to grow to $650 (nearest hundredth of a year)?

Jun 09, 2022
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