Harvey alson invested $7,500 in a 2-year cd that pays 6% interest compounded quarterly. what is the amount of interest that harvey will earn when the cd matures?

The answer is $948.75.

Step-by-step explanation:

P = 7500

t = 2

r = 6% or 0.06

n = 4 (quarterly means 4 times in a year)

Now, compound interest formula is given as :

Now putting these values in the formula, we get

=>

A = $8448.75

So, interest earned will be = dollars

The answer is $948.75.

it is true

step-by-step explanation:

all the combinations add up i used   calculator

i got 10.28 but that rounds up to 10.3