A bank offers a CD that pays a simple interest rate of 4.0​%. How much must you put in this CD now in order to have ​$1500 for a​ home-entertainment center in 2 years.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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A bank offers a CD that pays a simple interest rate of

4.0​%.

How much must you put in this CD now in order to have

​$1500

for a​ home-entertainment center in

2
years.
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