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2. Interest Earned. Lisa is depositing $2,500 in a six-month CD that pays 4.25% interest. How much interest will she accrue if she holds the CD until maturity

Answer :

Answer: $53.125

Explanation:

From the question, we are informed that Lisa is depositing $2,500 in a six-month CD that pays 4.25% interest. The amount of interest that she will accrue if she holds the CD until maturity will be calculated thus:

Interest = Principal × Rate × Time

= $2500 × 4.25% × 6months

= $2500 × 0.0425 × 6/12

= $53.125

Therefore, the amount of interest that she will accrue if she holds the CD until maturity is $53.125.

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