for a certain cd, the initial investment is $1,580 and the annual interest rate is 2.4%. how much interest…

for a certain cd, the initial investment is $1,580 and the annual interest rate is 2.4%. how much interest is earned in total? year one interest = $37.92 year two interest = $38.83 total interest = $? round your answer to the nearest hundredth.

for a certain cd, the initial investment is $1,580 and the annual interest rate is 2.4%. how much interest is earned in total? year one interest = $37.92 year two interest = $38.83 total interest = $? round your answer to the nearest hundredth.

Answer

Explanation:

Step1: Identify interest amounts

Year 1: $37.92, Year 2: $38.83

Step2: Sum the interests

Total = 37.92 + 38.83 = 76.75

Answer:

$76.75