Suppose you buy a two-year CD for $50,000 from First Command Bank.
Use the APY from the First Command Bank table to determine how much interest it earns for you at maturity.
Lacking Data.
To determine the amount of interest earned on the two-year CD at maturity, we need to refer to the APY (Annual Percentage Yield) provided by First Command Bank. As an AI, I do not have access to real-time bank data or tables. However, you can find the APY offered by First Command Bank by visiting their website, contacting their customer service, or referring to their promotional materials.
Once you have obtained the APY, you can calculate the interest earned using the following formula:
Interest Earned = Principal Amount x APY
Let's assume that the APY provided by First Command Bank is 2.5% for the two-year CD. Using this APY in the formula, we can calculate the interest earned:
Interest Earned = $50,000 x 0.025
Interest Earned = $1,250
Therefore, if the APY is 2.5%, the CD would earn $1,250 in interest at maturity. However, please note that the actual APY may vary, so it is important to refer to the bank's official information for the most accurate calculation.
To determine how much interest the two-year CD earns for you at maturity using the Annual Percentage Yield (APY) from the First Command Bank table, you need to follow these steps:
1. Find the APY for a two-year CD in the First Command Bank table. Look for a percentage value indicated for a two-year term.
2. Let's assume that you find an APY of 2.5% for a two-year CD in the First Command Bank table.
3. Calculate the interest earned by multiplying the APY by the principal amount of $50,000.
Interest = APY * Principal
= 2.5% * $50,000
= 0.025 * $50,000
= $1,250
Therefore, the CD will earn you $1,250 in interest at maturity based on the given APY of 2.5% and a principal amount of $50,000.