Hart Conner
10/28/2023 · Middle School
Marcus receives an inheritance of \( \$ 5,000 \). He decides to invest this money in a 20-year certificate of deposit (CD) that pays \( 4.0 \% \) interest compounded monthly. How much money will Marcus receive when he redeems the CD at the end of the 20 years? Marcus will receive \( \$ \square \). (Round to the nearest cent.)
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Marcus will receive approximately \( \$ 11,040.20 \) when he redeems the CD after 20 years.
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