Respuesta :

The cost of a cd after 6 year is =$ 15.12

Step-by-step explanation:

The present cost of the cd is $11.95 and inflation rate 4%

P = $11.95 , r = 4% and  n = 6 years

The cost of a cd after 6 year is =[tex]P (1+\frac{r}{100})^n[/tex]

                                                   =$ [tex]11.95(1+\frac{4}{100})^6[/tex]

                                                   =$ 15.12

ACCESS MORE
EDU ACCESS