**D Question 1**1 pts

How much interest will you earn on

a two year $6,000 CD that will pay

annual interest of 5%? The first

year's interest will remain in the CD

and also earn interest during the

second year.

**Answer:**

$600 (if not compound interest) read below

**Step-by-step explanation:**

This question is asking for the amount of interest, not the total including the $6,000 CD, which means the question will be way simpler.

- You try to find interest for 2 years.
- This is mostly mental work. What is 5% of 6000?
- Equation: (5% of 6000)(2)
- (300)(2)
- $600 in interest.
- This depends. Are we trying to find compounded interest? If we were, we would find 5% of 6000, add it to 6000, then add 5% of that sum.
- (0.05)(6000)+6000=x, x(0.05)=compounded interest
- 300+6000=x, x=6300
- 6300(0.05)+6300=compounded interest
- 315+6300=compounded interest
- 6615=total after compounded interest
- 6615-6000=how much in interest is paid
- $615 in
*compounded*interest.

Rate answer

If your question is not fully disclosed, then try using the search on the site and find other answers on the subject Mathematics.

Find another answersMathematics, published 11.05.2023

Mathematics, published 23.03.2023

Use the equation to identify the center and radius of the circle (X+3)^2+(y-7^2=11

Mathematics, published 27.05.2023