Ron has saved up $2,500 and wants to use it to purchase a boat in 5 years. He can invest the money by purchasing a 5-year certificate of deposit that earns 6.5% annually. If he chooses to do this, how much money will he have available to spend on a boat once the CD matures?  

Answer rating: 100% (QA)

SOLUTION To calculate how much money Ron will have available to spend on a boat once the certificate ... View the full answer