Answered You can hire a professional tutor to get the answer.
Find the future value of a $15,000 Certificate of Deposit that pays compounded interest every three months at the rate of 6% per year. The CD has a...
Find the future value of a $15,000 Certificate of Deposit that pays compounded interest every three months at the rate of 6% per year. The CD has a term of 5 years.
a) Calculate the FV (Future Value) using the "Future Value or Compound Amount of $1.00" table in your textbook.
b) Calculate the FV (Future Value) using the formula: FV = P(1 + R)N
c) How much interest was earned on the investment?