Answer
$$\$11,600$$
Work Step by Step
Since the CD will pay out 1.75% interest, we find that the amount in the account at maturity is:
$$ = (\$11,400)(1+.0175 ) \\ = (\$11,400)(1.0175 )\\ = \$11,600$$
Basic College Mathematics (10th Edition)
by Lial, Margaret L.; Salzman, Stanley A.; Hestwood, Diana L.
Published by
Pearson
ISBN 10:
0134467795
ISBN 13:
978-0-13446-779-5
Chapters 1-10 - Cumulative Review Exercises - Page 758: 48
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