# Savanna Smiles invested $5,000 for one year in a CD that earns interest at a rate of 3.5% compounded monthly. What is the interest earned during the year? (Hint: Use the appropriate formulas and round at the end.)

1 answer

###### Question:

Savanna Smiles invested $5,000 for one year in a CD that earns interest at a rate of 3.5% compounded monthly. What is the interest earned during the year? (Hint: Use the appropriate formulas and round at the end.)

## Answers

We are asked to solve for the interest during the year given that it is compounded monthly, we are given with the formula A = P(1+r)^n. The solution is shown below:A = P (1+r)^nA = $5,000 (1+ 3.5/12)^(12*1)A = $5,000 (1.000292)^12A = $5,177.84

#### Similar Solved Questions

1 answer

### Two TransWorld Airline mechanics failed to properly repair the landing gear of a 747. As a result, the plane’s landing gear collapsed on takeoff and the plane caught fire. Several passengers were injured. While racing to the scene of the crash, an airport fire truck blew a tire and hit a light pole. The pole fell onto Carl’s car, smashing the trunk and damaging the new Blu-Ray DVD player store there. The injured passengers and Carl sued TWA and the mechanics. Are TWA and the mechanics liable to

Two TransWorld Airline mechanics failed to properly repair the landing gear of a 747. As a result, the plane’s landing gear collapsed on takeoff and the plane caught fire. Several passengers were injured. While racing to the scene of the crash, an airport fire truck blew a tire and hit a light pol...

2 answers

### What is true about the solutions of a quadratic equation when the radicand of the quadratic formula is zero? A. No real solutions B. Two identical rational solutions C. Two different rational solutions D. Two irrational solutions

What is true about the solutions of a quadratic equation when the radicand of the quadratic formula is zero?
A. No real solutions
B. Two identical rational solutions
C. Two different rational solutions
D. Two irrational solutions...

2 answers

### What types of buildings were common during the Tang Dynasty? temples monasteries barns libraries medical schools restaurants

What types of buildings were common during the Tang Dynasty? temples monasteries barns libraries medical schools restaurants...

1 answer

### Find the LCM of the given polynomials. x^2 - 25 and x^2 - 3x - 10

Find the LCM of the given polynomials. x^2 - 25 and x^2 - 3x - 10...

1 answer

### You would burn about 200 cal by walking for 60 minutes about how many calories would you burn if you walk for 15 minutes

You would burn about 200 cal by walking for 60 minutes about how many calories would you burn if you walk for 15 minutes...

2 answers

### Once an action plan is in place, it should not be changed. Please select the best answer from the choices provided. ОТ OF

Once an action plan is in place, it should not be changed.
Please select the best answer from the choices provided.
ОТ
OF...

2 answers

### Most animal cell membranes have proteins that pump ______ ions out of the cell and potassium ions into the cell.

Most animal cell membranes have proteins that pump ______ ions out of the cell and potassium ions into the cell....

1 answer

### If your clothing catches fire, you should. a. stop, drop, and roll. b. stay low and run to escape flames. c. run outside.

If your clothing catches fire, you should.
a. stop, drop, and roll.
b. stay low and run to escape flames.
c. run outside....

1 answer

### HELP PLEASEWrite a short description about each person in Spanish. Use as many adjectives as you can and pay attention to accents. Write at least four sentences for each person.ShakiraAntonio BanderasLetizia, la Princesa de España

HELP PLEASEWrite a short description about each person in Spanish. Use as many adjectives as you can and pay attention to accents. Write at least four sentences for each person.ShakiraAntonio BanderasLetizia, la Princesa de España...

1 answer

### Circle the highlighted digit and write it’s value 934,218 the three is highlighted. I need the answer please

Circle the highlighted digit and write it’s value 934,218 the three is highlighted. I need the answer please...

1 answer

### Professor Plum is standing 10 feet from a streetlamp. The light from the lamp is making his shadow 8 feet long. He estimates that the angle of elevation from the tip of his shadow to the top of the streetlamp is 40. About how high is the streetlamp? (6 points)

Professor Plum is standing 10 feet from a streetlamp. The light from the lamp is making his
shadow 8 feet long. He estimates that the angle of elevation from the tip of his shadow to the
top of the streetlamp is 40. About how high is the streetlamp? (6 points)...

1 answer

### In a clothing store, 75% of the customers buy a shirt, 20% of the customers buy a pair of pants, and 15% of the customers by both the shirt and a pair of pants. If a customer is chosen at random what is the probability that he or she buys a shirt or a pair of pants?

In a clothing store, 75% of the customers buy a shirt, 20% of the customers buy a pair of pants, and 15% of the customers by both the shirt and a pair of pants. If a customer is chosen at random what is the probability that he or she buys a shirt or a pair of pants?...

1 answer

### It is the one in the middle i listened to the first person and i got it wrong by the way this is the answer for edge2020 sience review

It is the one in the middle i listened to the first person and i got it wrong by the way this is the answer for edge2020 sience review...

1 answer

### PLEASE HELP!!!!1. What is the product written in scientific notation (1.23 X 10^-2) X (7.3 X10^8)2. Compare use >, <, or = 6 x 10^-3 5 x 10^-3

PLEASE HELP!!!!1. What is the product written in scientific notation (1.23 X 10^-2) X (7.3 X10^8)2. Compare use >, <, or = 6 x 10^-3 5 x 10^-3...

2 answers

### What would be the first thing you would do if your clothes caught fire while working in a laboratory?. A) Call out to your teacher. B) Drop and roll on the floor to extinguish the fire. C) Run towards a source of water to extinguish the fire

What would be the first thing you would do if your clothes caught fire while working in a laboratory?. A) Call out to your teacher. B) Drop and roll on the floor to extinguish the fire. C) Run towards a source of water to extinguish the fire...

1 answer

### Find a polynomial function of degree 3 with real coefficients and the numbers 6, 3i as some of its zeros.

Find a polynomial function of degree 3 with real coefficients and the numbers 6, 3i as some of its zeros....

2 answers

### PLEASE HELP ME NOW !!!!! When a tornado approaches, some organisms flee and some organisms take shelter; but other organisms are unable to do either. Which of the following organisms would be at the most risk if a tornado passed through its habitat?

PLEASE HELP ME NOW !!!!! When a tornado approaches, some organisms flee and some organisms take shelter; but other organisms are unable to do either. Which of the following organisms would be at the most risk if a tornado passed through its habitat?...

1 answer

### 4x^2 + 4x - 8 = 0 solved in a quadratic formula.

4x^2 + 4x - 8 = 0 solved in a quadratic formula....