15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value of the certif

Question

15. Madison invested in a certificate of deposit for 4 years at a 6% interest rate. At the end of the 4 years, the value
of the certificate of deposit was $3,100. How much did Madison deposit originally?

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Tryphena 1 week 2021-07-21T13:09:15+00:00 1 Answers 2 views 0

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    2021-07-21T13:10:37+00:00

    Answer:

    2455.49

    Step-by-step explanation:

    3100=x(1+.06)^4\\x=2455.490356

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