Mr. Nailor invests 5,000 in a certificate of deposit at his local bank. He receives annual interest of 8% for 7 years. How much interest will his investment earn during this time period? A)2,915, B)3,570, C)6,254, D)8,570© BrainMass Inc. brainmass.com June 3, 2020, 6:37 pm ad1c9bdddf
The solution explains how to calculate the total interest earned on a certificate of deposit.