marcus receives an inheritance of $13,000. he decides to invest this money in a 10-year certificate of deposit (CD) that pays 3.0% interest compounded monthly. how much money will marcus receive when he redeems the CD at the end of 10 years?

Marcus will receive a total of $17,542.2 when he redeems the certificate of deposit (CD) at the end of 10 years

Step-by-step explanation:

Principal(p)=$13,000

Rate(r)=3.0%

Period(n)=12 months

Time(t)=10 years

A=p(1+r/n)^nt

=13,000(1+0.03/12)^12*10

=13,000(1+0.0025)^120

=13,000(1.0025)^120

=13,000(1.3494)

=17,542.2

A=$17,542.2

Marcus will receive a total of $17,542.2 when he redeems the certificate of deposit (CD) at the end of 10 years

answer: my brother can figure it out, imma go get him so i can answer : ) edit: my brother is sleeping, sorry man

step-by-step explanation:

answer: idk wbu

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