Question

Hey i need help with this question.

Research the highest interest rate (APY—annual percent yield) for 2-year and 5-year CDs. Document the company's name, interest rate, and minimum investment. The minimum investment must be less than or equal to $5,000.

i get it but i can't find a bank that has a five year CD (certificates of deposit) for 5,000 or less Please Help.

Answer 1

@GiaSimone

Answer 2

f(x) = 5000(1.2example)x
5000 is the amount you are investing.:
You decide that investing $5,000 into some Certificates of Deposit (CDs) would be a beneficial move.
now u would just plug in the years as x...for example:
f(1) = 5000 x 1.2
f(1) = 6000

f(2) = 5000(1.2)2
F(2) = 5000 x 2.4
f(2) = 12000

Answer 3

i know all of that i just can't find a bank that has a five year CD for 5,000 or less

Answer 4

oh ok well that I don't know either I'm sorry

Answer 5

well thanks any ways this really stinks

Answer 6

http://www.bankrate.com/partners/sem/cd-rates.aspx?ec_id=m1017780&prods=19&s_kwcid=AL!1325!3!41195994248!b!!g!!5%20yr%20cds&ef_id=U1x30QAABcWRriFC:20140502044452:s&MSA=2360

Try Barclays.

Answer 7

@tkhunny hey thanks