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on melissa's 6th birthday, she gets a $5000 CD that earns 3% interest, compounded semiannually. If the CD matures on her 10th birthday, how much money will be available?
on melissa's 6th birthday, she gets a $5000 CD that earns 3% interest, compounded semiannually. If the CD matures on her 10th birthday, how much money will be available?
Answer:Themoney availableon her 10th birthday is$5627.54Step-by-step explanation:Given information:Principal= $5000Time= 4 yearsRate of interest= 3%As we know that the formula for theamountof compound interestHence, themoney availableon her 10th birthday is$5627.54For more information visit:brainly.com/question/13155407?referrer=searchResults...
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