To solve this problem, we will use the compound interest formula:

$A = P \left(1 + \frac{r}{n}\right)^{nt}$

Where:

• $A$ is the future value (the amount after interest),
• $P$ is the principal (initial deposit),
• $r$ is the annual percentage rate (APR) as a decimal,
• $t$ is the time in years,
• $n$ is the number of compounding intervals per year.

Given:

• $P = 4400$,
• $r = 0.51\% = 0.0051$,
• $t = 3$ years,
• $n = 12$ (since it's compounded monthly).

We want to find the profit, which is $A - P$.

Let's calculate the future value first.The future value of the CD after 3 years is approximately $4467.82. The profit earned from the CD is about $67.82.

Would you like more details or have any questions?

Here are 5 related questions you could explore:

1. What would the profit be if the APR were 1%?
2. How does increasing the compounding frequency affect the profit?
3. What if the deposit period was extended to 5 years?
4. How would the profit change if the initial deposit were $5,000 instead of $4,400?
5. What is the difference between simple interest and compound interest for this CD?

Tip: The more frequent the compounding, the more interest you can earn over time.