Solved

Sally Wishes to Invest $4500 in a 2-Year CD with an Interest

Question 85

Multiple Choice

Sally wishes to invest $4500 in a 2-year CD with an interest rate of 5.3% each year and compounded monthly. What is the annual percentage yield for Sally's CD (rounded to the nearest hundredth) ?


A) 5.43%
B) 1.05%
C) 5.3%
D) 11.16%
E) 0.44%

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q80: The value of an investment at time

Q81: Determine the equation of the line that

Q82: Decide whether you would graph the equation

Q83: Atmospheric pressure (measured in atm) decreases by

Q84: What type of function does the data

Q86: The revenue of a company is being

Q87: Using the following table of a function

Q88: Graph the equation <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8673/.jpg" alt="Graph the

Q89: The number of ants in a colony

Q90: Graph the equation <img src="https://d2lvgg3v3hfg70.cloudfront.net/TBX8673/.jpg" alt="Graph the