# 1. How much money must you deposit at 4% interest compounded quarterly in order to earn $406.04...

## Question:

2. Savings Account How much money must you deposit at 2.1% interest compounded monthly in order to earn $347.58 interest in 3 years?

3. Interest Rate Clara would like to have $2100 in 7 years to give her granddaughter as a 21st birthday present. She has $1500 to invest in a 7-year certificate of deposit (CD). What rate of interest compounded annually must the CD earn?

4. Interest Rate Juan would like to have $2300 in 3 years in order to buy a motorcycle. He has $2000 to invest in a 3-year certificate of deposit (CD). What rate of interest compounded annually must the CD earn?

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**Related Book For**

## Finite Mathematics and Its Applications

**ISBN:** 978-0134768632

12th edition

**Authors:** Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair