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1 % interest compounded monthly .
3,)To help pay for a class trip at the end of their senior year, the freshman class at a high school invests $1900 from fund-raisers in a 42-month CD paying 2.1% interest compounded monthly. Determine the amount the class will receive when it cashes in the CD after 42 months.
The freshman class will receive $__________when it cashes in the CD.
(Round to the nearest cent as needed.)
4.)A recent high school graduate received $800 in gifts of cash from friends and relatives. In addition, she received three scholarships in the amounts of $150
$300, and $1500. If she takes all her gift and scholarship money and invests it in a 36-month CD paying 1% interest compounded daily (use =360), how much will the graduate have when she cashes in the CD at the end of the 36-months?
The graduate will have $_______when she cashes in the CD.
