Suppose you bought a three-year CD for $20,000 with an APR of 3.88% compounded quarterly. Determine...

 

Transcribed Image Text:

Suppose you bought a three-year CD for $20,000 with an APR of 3.88% compounded quarterly. Determine the amount of interest you will have earned when the CD matures? Round your answer to the nearest cent. $ Viewing Saved Work Revert to Last Response [0/1.5 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You want to save $12,000 for a down payment on a home by making regular monthly deposits over four years. Take the APR to be 7.1% How much money do you need to deposit each month? (Round your answer to the nearest cent.) $ X per month Suppose you bought a three-year CD for $20,000 with an APR of 3.88% compounded quarterly. Determine the amount of interest you will have earned when the CD matures? Round your answer to the nearest cent. $ Viewing Saved Work Revert to Last Response [0/1.5 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You want to save $12,000 for a down payment on a home by making regular monthly deposits over four years. Take the APR to be 7.1% How much money do you need to deposit each month? (Round your answer to the nearest cent.) $ X per month