Wesley found a special savings account that offers 12% interest, compounding monthly. He invests $3,050...
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Finance
Wesley found a special savings account that offers 12% interest, compounding monthly. He invests $3,050 and lets it sit for 13 years. How much money will Wesley have in the account at the end of the 13 years?
$14,402.38
$13,308.65
$645.90
$3,471.18
Ron has saved up $2,500 and wants to use it to purchase a boat in 5 years. He can invest the money by purchasing a 5-year certificate of deposit that earns 6.5% annually. If he chooses to do this, how much money will he have available to spend on a boat once the CD matures? Group of answer choices
$3,457.04
$3,432.97
$3,425.22
$3,312.50
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