Question:

To help pay for new costumes for a play, a theater invests

Last updated: 7/13/2022

To help pay for new costumes for a play, a theater invests

To help pay for new costumes for a play, a theater invests $1100 in a 42-month CD paying 2.5% interest compounded monthly. Determine the amount the theater will receive when it cashes in the CD after 42 months. The theater will receive $ when it cashes in the CD. (Round to the nearest cent as needed.)