Question for those good at math?

Question

If I have a CD at the bank containing 10,000 dollars with a dividend rate of 3.65% and an APY of 3.710%, how much will I have in four years when it matures?

Answer 1

The above answer is only right if the interest is compounded.  Your first step is to find out if the interest rate is simple or compounded, and if your returns are reinvested/rolled over or distributed to you.  Email me if I can help any more, there can be a lot of variables involved, even in CD's.  [e-mail]

Answer 2

$10,000 x (1.0371 ^ 4) = $11,568.65