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If You Deposit $1,000 into a Certificate of Deposit That

Question 128

Multiple Choice

If you deposit $1,000 into a certificate of deposit that quotes you a 5.5% APY,how much will you have at the end of 1 year?

A) $1,050.00
B) $1,055.00
C) $1,550.00
D) $1,005.50
E) None of the options is correct.

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