Multiple Choice
Suppose you have $1,500 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest,compounded annually.How much will you have when the CD matures?
A) $1,781.53
B) $1,870.61
C) $1,964.14
D) $2,062.34
Correct Answer:
Verified
Correct Answer:
Verified
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