Your parents gave you $3,000 for your 16th birthday. You want to deposit it in a CD

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Your parents gave you $3,000 for your 16th birthday. You want to deposit it in a CD account that is earning 5% annually. Calculate how much your gift will be worth when you graduate from college exactly six years from now using the following methods:

a.Long-hand formula(Do not round intermediate calculations. Round final answer to 2 decimal places.)

b.Reference table.(Round final answer to 2 decimal places.)

c. Financial calculator (Round your answer to 2 decimal places.)

Posted Date: May 20, 2024 02:08 AM

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Your parents gave you $3,000 for your 16th birthday. You want to deposit it in a CD

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