Multiple Choice
Your local bank offers 4-year certificates of deposit (CDs) 12 % compounded quarterly. How much additional interest will you earn over 4 years on a $10,000 CD that is compounded quarterly, compared with one that is compounded annually?
A) $6,050
B) $0
C) $312
D) $220
Correct Answer:
Verified
Correct Answer:
Verified
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