Danielle has a CD at crossland bank. she invest $22,350 for four years at 4.55% interest. compounded monthly. What is her ending balance? How much interest did she make?
Question
Answer:
$22,350 x 4.55% = $1,016.925 (interest per year)$1,016.925 x 4 = $4,067.70 (amount of interest earned over 4 years)
$22,350 + $4,067.7 = $26,417.70 (ending balance)
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11 months ago
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