Ethan put $4000 in a 2-year CD paying 5% interest, compounded monthly. After 2 years, he withdrew all his money. What was the amount of the withdrawal?
Answers
The compound interest is the financial phenomenon in the investment purpose where the interest charged over the principal amount becomes the part of principle after its receipt to the recepient.
The interest earned becomes the part of investment amount and over the interest amount also the interest is charged in a further period. This increases the value of investment rapidly.
The amount of withdrawal is $4,419.76
Given,
Principle amount (P)=$4,000
rate of interest (r)= 5% or 0.05
Number of months (n)= 24
Number of years (t) =2 years
The amount of withdrawal is $4,420 or as per the options, it is $4,419.76.
To know more about the power of compounding, refer to the link:
$4419.76 on apex and I don’t know how to explain it but it won’t let me post otherwise, so.... good luck this year.
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The annual rent is $42,620
Explanation:
The computation of annual rent is shown below:
= Annual rent + (rate × gross sales)
where,
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= $2,800 × 12
= $33,600
The rate is 4%
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False
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During a job interview it is important for the applicant to ask the interviewer questions to show their interest in the position and the desire to be selected.
Among the questions that can be asked by the job applicant are topics such as delving into the success that former workers have had in this same position, questions about the company's priorities to delve into related issues on which he has greater knowledge and coincide with the priority issues of the company or even the candidate can ask about the work environment and the challenges to face if selected.
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a. True
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consumer protection laws
the terms of the transaction