SAT Math Question (17) - A Contest

in #mathematics7 years ago (edited)

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The Rules

  • Do not leave your answer in the comments!
  • Please give the answer to me via this link (https://steemit.chat/direct/hansenator) and up-vote.
  • Solution will be posted next week towards the end of contest post.
  • First 8 correct solutions will be paid out in steem!
    1st place will receive 6 STEEM,
    2nd - 4 STEEM
    3rd - 2 STEEM
    4th and 5th - 1 STEEM
    6th through 8th - .5 STEEM
  • Any other correct DMs will get a 100% up-vote on their latest post (17-20 cents).

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The Question

A students wants to save some money for his future, so he takes his entire life savings of $1200 and puts it into a CD. The bank offers a 2.5% annual interest rate compounded monthly for 40 years. How much is the CD worth then?
Hint: Here is a lesson on such a problem for those of you that do not remember how to do this.

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Thank you for your participation! Best of luck my friends!

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Sort:  

Congratulations to @xabi for first spot! 6 Steem To You!

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thanks man. I love it.

Hello xabi's wife. Haha.

Received the prize 6 steems.🏆🏆🏆🏆🏆🏆
I will write a post about it tomorrow.
Thanks again @hansenator

Thank you xabi! Have a good weekend!

Turned my answer in, hopefully the right one.

Great job! 2nd spot for 4 Steem.
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Messaged you the answer.

Very good happyme! 4th place! 1 Steem for you.
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Thank-you very much! A small up-vote for you. I wish my up-votes were larger, but its the best I can do for now.

Congratulations @rigor! 3rd place!
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thankyou very much

This post has received a 100% upvote worth $0.08 from @minnowspower thanks to: @theguruasia

MinnowsPower is not a bot, I am a Crowdfunding Hybrid
One small UpVote of Yours build MinnowsPower and MinnowsPower will Not Forget Your Support...!!!
(Limited Service Offer) Send 0.01 SBD and get $0.025 - $0.03 worth upvote from @MinnowsPower

I already sent my answer

Nice job! You got it!
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