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Suppose You Have $2,000 and Plan to Purchase a 10-Year

Question 40

Multiple Choice

Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 11.1% interest,compounded annually.How much will you have when the CD matures?


A) $7,105.46
B) $5,730.21
C) $6,818.95
D) $6,303.23
E) $4,526.87

Correct Answer:

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