Question

Asked Nov 8, 2019

Marcus receives an inheritance of $3,000. He decides to invest this money in a

13-year certificate of deposit (CD) that pays 5.0% interest compounded monthly. How much money will Marcus receive when he redeems the CD at the end of the 13 years?

Marcus will recieve $___

Round to the nearest cent

Step 1

Recall the following fact.

Step 2

Substitute the given values and compute the co...

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