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To celebrate Alo's birth, his family opens a CD ( certificate of deposit ) with $ 6 , 0 0 0 in it . The
To celebrate Alo's birth, his family opens a CD certificate of deposit with
$
in it The CD earns
compounded quarterly. Alo will have access to the money when she turns
old. Answer the following questions. Round answers to decimal places.
A How much money will be in the account in
years?
Total amount: $
B What percentage of the money in the account will be from interest?
Percentage from interest:
C What is the annual percentage yield APY for the savings account? The APY is the actual or effective annual percentage rate which includes all compounding in the year
A
P
Y
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