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    chilenita's Avatar
    chilenita Posts: 1, Reputation: 1
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    #1

    Feb 3, 2009, 12:10 PM
    Certificate of deposit
    Question

    Suppose you have $2,000 and plan to purchase a 3-year certificate of deposit (CD) that pays 4% interest, compounded annually. How much will you have when the CD matures?

    Can someone help me do this step by step?
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Feb 3, 2009, 12:27 PM
    Quote Originally Posted by chilenita View Post
    Question

    Suppose you have $2,000 and plan to purchase a 3-year certificate of deposit (CD) that pays 4% interest, compounded annually. How much will you have when the CD matures?

    Can someone help me do this step by step?


    Is this homework? There's a homework section where this belongs if it is.
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