Multiple Choice
Peter invests $100,000 in a 3-year certificate of deposit earning 3.5% at his local bank. Which time value concept would be used to determine the maturity value of the certificate?
A) Present value of one.
B) Future value of one.
C) Present value of an annuity due.
D) Future value of an ordinary annuity.
Correct Answer:
Verified
Correct Answer:
Verified
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