Concept explainers
(Financial application: compute CD value) Suppose you put $10,000 into a CD with an annual percentage yield of 5.75%. After one month, the CD is worth
After two months, the CD is worth
After three months, the CD is worth
and so on.
Write a
Enter the initial deposit amount: 10000
Enter annual percentage yield: 5. 75
Enter maturity period (number of months): 18
Month | CD Value |
1 | 10047.92 |
2 | 10096.06 |
… | |
17 | 10846.57 |
18 | 10898.54 |
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