question archive In 2009, Betty purchased a one-year $81000 certificate of deposit (CD) at Fidelity Savings Loan
In 2009, Betty purchased a one-year $81000 certificate of deposit (CD) at Fidelity Savings Loan
Subject:FinancePrice: Bought3
In 2009, Betty purchased a one-year $81000 certificate of deposit
(CD) at Fidelity Savings Loan. The interest rate for the CD was 5.50% each year, compounded semiannually.
Using the compound interest table, calculate the Year 1 investment value, the interest for Year 1, and the effective interest rate.
Year 1 Investment Value $
Year 1 Interest $
Effective Interest Rate
%
