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Find the future value of a 15000 certificate of deposit

Find the future value of a $15,000 Certificate of Deposit that pays compounded interest every three months at the rate of 6% per year. The CD has a term of 5 years.

a) Calculate the FV (Future Value) using the "Future Value or Compound Amount of $1.00" table in your textbook.

b) Calculate the FV (Future Value) using the formula: FV = P(1 + R)^N

c) How much interest was earned on the investment?

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Finance Basics: Find the future value of a 15000 certificate of deposit

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