for a certain cd, the initial investment is $1,900 and the annual interest rate is 3%. how much interest is…

for a certain cd, the initial investment is $1,900 and the annual interest rate is 3%. how much interest is earned in total? year one interest = $57.00 year two interest = $58.71 total interest = $? do not round your answer.

for a certain cd, the initial investment is $1,900 and the annual interest rate is 3%. how much interest is earned in total? year one interest = $57.00 year two interest = $58.71 total interest = $? do not round your answer.

Answer

Answer:

$115.71$

Explanation:

Step1: Identify given values

Year - one interest = $57$, Year - two interest = $58.71$

Step2: Calculate total interest

Total interest = $57 + 58.71=115.71$