You inherit $15,000 from your aunt.You decide to invest the money in a three-year CD that pays 4% interest to use as a down payment on a house.How much money will you have when the CD matures?

Name: You inherit $15,000 from your aunt.You decide to invest the money in a three-year CD that pays 4% interest to use as a down payment on a house.How much money will you have when the CD matures?
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Question

Quizplus · Accepted Answer

PV = 15,000
N = 3
I/YR = 4
FV = ? = 16,872.96

You Inherit $15,000 from Your Aunt