Question: need some help here, will like the answer. thanks! A CD, or certificate of deposit, is a type of savings account with a fixed rate

need some help here, will like the answer. thanks!
need some help here, will like the answer. thanks! A CD, or

A CD, or "certificate of deposit," is a type of savings account with a fixed rate and term, meaning you can only redeem it when the term is over. If you open a CD with an initial deposit of $2600 and an APR of 0.21% compounded monthly, what profit will you have earned when you redeem the CD in 3 years? Round your answer to the nearest cent, if necessary

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!