If you deposit $5,000 into a 6-month CD (certificate of deposit) that pays 7.5% APR
compounded quarterly, what is its value at maturity?

Name: If you deposit $5,000 into a 6-month CD (certificate of deposit) that pays 7.5% APR compounded quarterly, what is its value at maturity?
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Question

Quizplus · Accepted Answer

The Answer is

F = P \left( 1 + \frac { i } { m } \right) ^ { n m } \quad F = 5000 \left( 1 + \frac { 0.075 } { 4 } \right) ^ { ( 0.5 ) ( 4 ) } \quad F = \$ 5189.26

If You Deposit $5,000 into a 6-Month CD (Certificate of Deposit)