Multiple Choice
You have invested $5,000 into a certificate of deposit for 5 years. It pays a 6% annual nominal rate, compounded semiannually. What is the value of the certificate of deposit at the end of 5 years?
A) $6,691.13
B) $6,719.58
C) $28,185.46
D) $8,954.24
Correct Answer:
Verified
Correct Answer:
Verified
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