Larry purchased a certificate of deposit for $1500. The interest rate is 2%, compounded monthly, and it will mature in 2 years. What will it be worth then?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter7: Exponents And Exponential Functions
Section: Chapter Questions
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Question 10
Larry purchased a certificate of deposit for $1500. The interest rate is 2%, compounded monthly, and it will mature in 2
years. What will it be worth then?
Answer
$1530.30
G
$1560.45
H.
$1561.16
J
$1560.00
Transcribed Image Text:Question 10 Larry purchased a certificate of deposit for $1500. The interest rate is 2%, compounded monthly, and it will mature in 2 years. What will it be worth then? Answer $1530.30 G $1560.45 H. $1561.16 J $1560.00
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