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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
$
6
,
000
in it. The CD earns
4.7
%
compounded quarterly. Alo will have access to the money when she turns
18
old. Answer the following questions. Round answers to 2 decimal places.
(A) How much money will be in the account in
18
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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