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If 16,400 is deposited annually into a CD paying 5.1% annually, how much will there be in 20 years
There will be $33,128 in 20 years. 16,400*.051=836.4*20=16,728 16,400+16, 728 = 33,128
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Asked 2/26/2013 7:50:21 AM
Updated 6/12/2014 6:45:40 AM
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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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Questions asked by the same visitor
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. (More)
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Expert Answered
Updated 235 days ago|11/30/2023 3:13:54 PM
1 Answer/Comment
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 235 days ago|11/30/2023 3:13:54 PM
This answer has been confirmed as correct and helpful.
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