Multiple Choice
Today Thomas deposited $100,000 in a three-year, 12% CD that compounds quarterly. What is the maturity value of the CD?
A) $109,270.
B) $119,410.
C) $142,576.
D) $309,090.FV = $100,000 x 1.42576* = $142,576 *FV of $1: n = 12; i = 3%
Correct Answer:
Verified
Correct Answer:
Verified
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