Question

Would you make more interest by investing three thousand dollars in a 6-month certificate of deposit (CD) at three percent interest or by investing one thousand dollars in a twelve-month CD at three point five percent interest? Show your work.

Answer 1

Interest = Principal * r * t
r: rate of interest per year (in decimals)
t: no. of years invested.
Plug the numbers in and see which one gives you more interest.

Answer 2

alright thank you

Answer 3

you are welcome.