Ask Question
20 April, 15:50

Hildegard wants to have $24,000 in 15 months. About how much should she put into a 15-month CD that earns simple interest of 6.4% a year calculated quarterly in order to reach her goal

+1
Answers (1)
  1. 20 April, 15:58
    0
    A=p (1+i/k) ^kn

    24000=p (1+0.064/4) ^4*15/12

    24000=p (1.016) ^5

    P=24000 / (1.016) ^5

    P=22,168.83
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Hildegard wants to have $24,000 in 15 months. About how much should she put into a 15-month CD that earns simple interest of 6.4% a year ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers