On melissa's 6th birthday, she gets a $5000 cd that earns 3% interest, compounded semiannually. if the cd matures on her 10th birthday, how much money will be available?

The money available on her 10th birthday is $5627.54

Step-by-step explanation:

Given information:

Principal = $5000

Time = 4 years

Rate of interest = 3%

As we know that the formula for the amount of compound interest

Hence, the money available on her 10th birthday is $5627.54

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Step-by-step explanation:

we know that    

The compound interest formula is equal to  

where  

A is the Final Investment Value  

P is the Principal amount of money to be invested  

r is the rate of interest  in decimal

t is Number of Time Periods  

n is the number of times interest is compounded per year

in this problem we have  

substitute in the formula above  

an advantage of the standard deviation is that it increases as the dispersion of the data increases. e. the interquartile range is preferred when the data are not skewed or no have outliers. an advantage of the standard deviation is that it uses all the observations in its computation.

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step-by-step explanation: