Question: Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your cwn investment period. Jonachan has $9,000 for
Future value (with changing years). Dixie Bank offers a certificate of deposit with an option to select your cwn investment period. Jonachan has $9,000 for his CD investment. If the bank is offering a 5% interest rate, compounded annually, how much will the CD be worth at maturity if Jonathan picks a a. two-year investment period? b. fve-yoar investment period? c. ten-year investment period? d. fifteen-year investment period? a. How much will the $9.000CD investment at 5% interest rate be worth at maturity it Janathan picks a 2 -year investment penod? (Round to the nearest cent) b. How mach will the $0,000CD imvestment at 5% interest rate be worth at maturity if Jonathan picks a 5 year investment period? (Round to the nearest cent.) c. How much will the 59,000CD investment at 5% interest rate be worth at maturity if Jonathan picks a 10 -year investment period? (Round to the nearest cent.) d. How much will the $9,000CD investrment at 5% interest rate be worth at maturly if Jonathan picks a 15 -year investment period? (Round to the rearest cent.)
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