Annie is considering opening a certificate of deposit (CD) account. The CD account will earn interest. However, it does not allow her to deposit or withdraw money for 2 years.

First Bank is offering a CD account with a 1.8% interest rate each month. The interest is compounded. In other words, the interest earned each month will be based on the total account balance from the previous month. Annie has 500$ to start the account.

Question

Annie is considering opening a certificate of deposit (CD) account. The CD account will earn interest. However, it does not allow her to deposit or withdraw money for 2 years.

First Bank is offering a CD account with a 1.8% interest rate each month. The interest is compounded. In other words, the interest earned each month will be based on the total account balance from the previous month. Annie has 500$ to start the account.

anonymous · Answer

(a) Fill in the table showing the amount of money in the CD account over 4 months, Banks always round down to the nearest cent when necessary.

anonymous · Answer

Could someone help please? I really need to do this.