Question

Cristiana uses $25,000 to purchase a 25 month CD (certificate of deposit) that pays 2.47% compounded monthly... What is her investment worth at the end of 25 months?

Answer 1

You need to figure out what 2.47% of 25,000 is first

Answer 2

Then, once you have that answer, you will multiply it by 25 (the months)

Answer 3

After you know this number, you will simply add it to the 25,000. This will tell you just how much her total is

Answer 4

@sallyreif does that make sense?