A bank offers a CD that pays a simple interest rate of 7.0 %. How much must you put in this CD now in order to have $2 comma 000 for a home-entertainment center in 5 years. The present value that must be invested to get $2 comma 000 after 5 years at an interest rate of 7.0 % is $
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Home » Business » A bank offers a CD that pays a simple interest rate of 7.0 %. How much must you put in this CD now in order to have $2 comma 000 for a home-entertainment center in 5 years.