Multiple Choice
Mary deposits funds into a CD at her bank. The CD has an annual interest of 4.0%. If Mary leaves the funds in the CD for two years she will have $540.80. Assuming no penalties for withdrawing the funds early, what amount would Mary have at the end of one year?
A) $521.60
B) $490.00
C) $500.00
D) $520.00
Correct Answer:
Verified
Correct Answer:
Verified
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