Math  /  Algebra

QuestionMarcus receives an inheritance of $4,000\$ 4,000. He decides to invest this money in a 16-year certificate of deposit (CD) that pays 5.5%5.5 \% interest compounded monthly. How much money will Marcus receive when he redeems the CD at the end of the 16 years?
Marcus will receive \ \square$ (Round to the nearest cent.)

Studdy Solution
Round the result to the nearest cent.
Marcus will receive \$ \(\boxed{9952.75}\)

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