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9 December, 08:15

Damon's father started a college fund on Damon's 8th birthday. He deposited $7500 into a CD (certificate of credit) that yields at interest rate of 0.23% compounded annually. How much money will the CD be worth when Damon turns 18 years old?

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  1. 9 December, 11:38
    0
    7672.50

    Step-by-step explanation:

    7500*0.23%=17.25

    17.25*10=172.50

    7500+172.50=7672.50
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