Christiana uses $25,000 to purchase a 25 month CD that pays 2.47% compounded monthly. What is her investment worth at the end of 25 months?

The principal amount is $25000

the interest rate 2.47 percent per year = 0.0247

number of times compounded per year 12

Number of years 2

Amount after 25 months = 25000 (1 + 0.0247 / 12) ^ (25)

= 25000 (1.002058333) ^ (25)

Amount after 2 years = 26318.74