If the Rate of a 24-Month CD Is 0

question 45

Short Answer

If the rate of a 24-month CD is 0.80% compounded daily, how much would need to be set aside in such a CD to have $15,000 at the end of 24-month term? Round to nearest cents.

---

Definitions:

Stroke Volume

The amount of blood pumped by the left ventricle of the heart in one contraction, indicating cardiac efficiency.

Cardiac Output

The quantity of blood circulated by the heart through the vascular system every sixty seconds.

Blood Pressure

The pressure of circulating blood on the walls of blood vessels, often measured as systolic over diastolic and a vital sign of cardiovascular health.

Stethoscope

A medical instrument used to listen to the sounds generated inside the body, especially those from the heart and lungs.