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If $16,400 is deposited annually into a CD paying 5.1% how much will there be in 20 years
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Asked 2/26/2013 7:52:34 AM
Updated 232 days ago|11/30/2023 3:13:54 PM
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User: If $16,400 is deposited annually into a CD paying 5.1% how much will there be in 20 years

Weegy: The ratio of pop CDs to the total number of CDs is 5/12. Thanks for asking Weegy.
Expert answered|Christi46|Points 30|

Question
Asked 2/26/2013 7:52:34 AM
Updated 232 days ago|11/30/2023 3:13:54 PM
1 Answer/Comment
This conversation has been flagged as incorrect.
Flagged by debnjerry
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A = 16,400(1 + 0.051/1)^(1*20)
A = 16,400(1.051)^20
Calculating this using a calculator or a computer, we find that A is approximately $45,509.65.
Added 232 days ago|11/30/2023 3:13:54 PM
This answer has been confirmed as correct and helpful.
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Questions asked by the same visitor
If 16,400 is deposited annually into a CD paying 5.1% annually, how much will there be in 20 years
Question
Updated 6/12/2014 6:45:40 AM
1 Answer/Comment
There will be $33,128 in 20 years.

16,400*.051=836.4*20=16,728
16,400+16, 728 = 33,128
Added 6/12/2014 6:45:40 AM
This answer has been confirmed as correct and helpful.
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