John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How much will be in the account at the end of four years?

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section: Chapter Questions
Problem 29RE: Alejandro deposits $80 of his monthly earnings into an annuity that earns 6.25% annual interest,...
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John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate,
compounded yearly. How much will be in the account at the end of four
years?

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