Ask Question
21 December, 21:51

Jake invested $7,500 in a 5-year CD that

pays 3.9% simple interest annually. How

much interest will the CD earn in 5 years?

A $292.50

B $1,462.50

C$7,792.50

D $8,962.50

+4
Answers (1)
  1. 21 December, 22:08
    0
    D. $8,962.50

    P stands for principal

    R stands for rate

    T stands for time

    A=$7,500 (1 + (0.039*5)) = $8,962.5

    A=$8,962.50

    So Jake will have $8,962.50 of interest after 5 years.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jake invested $7,500 in a 5-year CD that pays 3.9% simple interest annually. How much interest will the CD earn in 5 years? A $292.50 B ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers