If you invest $250 in a CD with an APR of 1.5% compounded monthly, the expression...

Transcribed Image Text:

If you invest $250 in a CD with an APR of 1.5% compounded monthly, the expression 0.015 12(5) 0.015 calculates the value of the CD in 5 years. Match each part of the expression with what it represents in this calculation. 0.015 1+ 0.015 12(5) 0.015 12 (1 + 12) 250(1+ 0.015 12(5) (1 + a. The number of times interest in compounded in 5 years b. The annual growth factor c. The monthly percent change, written as a decimal d. The 5-year growth factor e. The monthly growth factor Assuming the APR is constant every year and no money is added or removed besides interest, how much money is in your account t years after your investment? If you invest $250 in a CD with an APR of 1.5% compounded monthly, the expression 0.015 12(5) 0.015 calculates the value of the CD in 5 years. Match each part of the expression with what it represents in this calculation. 0.015 1+ 0.015 12(5) 0.015 12 (1 + 12) 250(1+ 0.015 12(5) (1 + a. The number of times interest in compounded in 5 years b. The annual growth factor c. The monthly percent change, written as a decimal d. The 5-year growth factor e. The monthly growth factor Assuming the APR is constant every year and no money is added or removed besides interest, how much money is in your account t years after your investment?

Answer rating: 100% (QA)

a The number of times interest is compounded in 5 years is 125 which equals 60 b The annual growth f... View the full answer