Multiple Choice
Suppose you have $850 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) $837.91
B) $1,009.53
C) $888.39
D) $858.10
E) $777.34
Correct Answer:
Verified
Correct Answer:
Verified
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