Part $2$: Calculations and Results

Before the COVID$-19$ pandemic, banks were offering decent Certificate of Deposit rates. It is always best to shop around for the banks with the highest interest rates by visiting their website or speaking with an agent. Recently, interest rates have usually varied from $1\%$ to $4\%$ with a minimum deposit that can range from $$500$ to $$10,000.$ From personal experience, credit union often offer the highest rates, and at one time,

a local credit union here in the Last Vegas Valley advertised these rates found below. The interest is compounded daily.

$\backslash$table$[[$Minimum Deposit,Term Length,Interest Rate$],[$$$10,000,9$ months,$4\%$Question $2$

$\frac{0}{2}$ pts

$1$

Details

Score on last try: $0$ of $2$ pts$.$ See Details for more.

You can retry this question below

You invest $$13000$ in a $9-$month $CD$ account.

$($a$)$ How much money will be in the account if you let the account fully mature? Round your answer to the nearest cent.

$

$($b$)$ Suppose you pull your money out of the account after $8$ months. How much will you withdraw after penalties? Round your answer to the nearest cent. Careful! The account will only have accrued $8$ months of interest instead of the entire $9!$

Check Answer

$$ Question $3$

$\frac{0}{2}$ pts

$1$

Details

Score on last try: $0$ of $2$ pts$.$ See Details for more.

You can retry this question below

You invest $$13000$ in a $19-$month CD account.

$($a$)$ How much money will be in the account if you let the account fully mature? Round your answer to the nearest cent.

$($b$)$ Suppose you pull your money out of the account after $18$ months. How much will you withdraw after penalties? Round your answer to the nearest cent.

Question $4$

$\frac{0}{2}$ pts

$2$

Details

You invest $$13000$ in a $29-$month $CD$ account.

$($a$)$ How much money will be in the account if you let the account fully mature? Round your answer to the nearest cent.

Question $4$

$\frac{0}{2}$ pts $02($i$)$ Details

You invest $$13000$ in a $29-$ month $CD$ account.

$($a$)$ How much money will be in the account if you let the account fully mature? Round your answer to the nearest cent.

$

$($b$)$ Suppose you pull your money out of the account after $20$ months. How much will you withdraw after penalties? Round your answer to the nearest cent.

Question $5$

$\frac{0}{2}$ pts $52($i$)$ Details

You invest some money in a $9-$month $CD$ account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $9$ months? Round your answer to the nearest cent.

Check Answer

Question $5$

$\frac{0}{2}$ pts $52$

Details

You invest some money in a $9-$month $CD$ account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $9$ months? Round your answer to the nearest cent.

Question $6$

$\frac{0}{2}$ pts $52($i$)$ Details

You invest some money in a $19-$month CD account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $19$ months? Round your answer to the nearest cent.

Question $7$

$\frac{0}{2}$ pts

$2$

Details

You invest some money in a $29-$month CD account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $29$ months? Round your answer to the nearest cent.

Question $6$

$\frac{0}{2}$ pts

$2$

Details

You invest some money in a $19-$month CD account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $19$ months? Round your answer to the rearest cent.

Question $7$

$\frac{0}{2}$ pts

$2$

Details

You invest some money in a $29-$month CD account. How much does your initial investment need to be if you would like to have $$30000$ at the end of the $29$ months? Round your answer to the nearest cent.

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