Claire has invested $10,000 in an eighteen month CD that pays 5 interest using monthly compounding Claire is also informed that the APY on this CD is 5 1162 How much interest will Claire receive in one year (4 points) How much interest will Claire receive at maturity (6 points)

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Claire has invested $10,000 in an eighteen-month CD that pays 5% interest using monthly compounding. Claire is also informed that the APY on this CD

Claire has invested $10,000 in an eighteen-month CD that pays 5% interest using monthly compounding. Claire is also informed that the APY on this CD is 5.1162%.

How much interest will Claire receive in one year? (4 points)
How much interest will Claire receive at maturity? (6 points)

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