Question:

On Melissa's 6th birthday, she gets a $4000 CD that earns 5%

Last updated: 8/11/2022

On Melissa's 6th birthday, she gets a $4000 CD that earns 5%

On Melissa's 6th birthday, she gets a $4000 CD that earns 5% interest, compounded semiannually. If the CD matures on her 12th birthday, how much money will be available? The amount available will be (Simplify your answer. Round to the nearest cent.)