Danielle has a CD at crossland bank. she invest $22,350 for four years at 4.55% interest. compounded monthly. What is her ending balance? How much interest did she make?
Accepted Solution
A:
$22,350 x 4.55% = $1,016.925 (interest per year)
$1,016.925 x 4 = $4,067.70 (amount of interest earned over 4 years)