Nazerhy deposits $7,000 in a certificate of deposit. The annual interest rate is 4%, and the interest will be compounded quarterly. How much will the certificate be worth (in dollars) in 20 years? (Simplify your answer completely. Round your answer to the nearest cent.)

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01-12-2022
Mathematics

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Nazerhy deposits $7,000 in a certificate of deposit. The annual interest rate is 4%, and the interest will be compounded quarterly. How much will the certificate be worth (in dollars) in 20 years? (Simplify your answer completely. Round your answer to the nearest cent.)

Sagot :

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