Question: Suppose you found a CD that pays 4.5% interest compounded monthly for 5 years. If you deposit $11,000 now, how much will you have in
Suppose you found a CD that pays 4.5% interest compounded monthly for 5 years. If you deposit $11,000 now, how much will you have in the account in 5 years? (Round to the nearest cent.) $ What was the interest earned? (Round to the nearest cent.) S Now suppose that you would like to have $20,000 in the account in 5 years. How much would you need to deposit now? (Round to the nearest cent.)
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