A truck driver receivies a $15,000 sign-on bonus after a new company. The truck driver places the money in a 5-year certificate of deposit with a 3.6% annual interest rate< compunded quartely. How much interest will the certificate of deposit earn at the end of the investment period?

Algebra: Structure And Method, Book 1
(REV)00th Edition
ISBN:9780395977224
Author:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Chapter2: Working With Real Numbers
Section2.1: Basic Assumptions
Problem 6WE
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A truck driver receivies a $15,000 sign-on bonus after a new company. The truck driver places the money in a 5-year certificate of deposit with a 3.6% annual interest rate< compunded quartely. How much interest will the certificate of deposit earn at the end of the investment period? 

O $15,687.26
O $17,943.81
O $687.26
O $2,943.81
Transcribed Image Text:O $15,687.26 O $17,943.81 O $687.26 O $2,943.81
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