Suppose maurice buys a cd for $400 that earns 2.5%apr is compound monthly . the cd matures in 3 years . how much will maurice’s cd be worth at maturity

$431.11

Step-by-step explanation:

To find how much the CD of Maurice will be after 3 years, we need to use the formula:

Now let's find all of our available variables.

P = $400

r = 2.5% or 0.025

t = 3 years

n = 12 months (Compounds monthly)

Now we can use the formula by substituting our values.

The CD of Maurice will be $431.11 after 3 years.

okay wait before i answer, is this for your points on a graph?

the simplified form is

step-by-step explanation:

we want to simplify the expression,

let us change the middle bar to a normal division sign to obtain,

we multiply the first fraction by the reciprocal of the second fraction to obtain,

we factor to obtain,

we cancel the common factors to get,

we simplify to get,

the correct answer is b