Multiple Choice
Your brother has asked you to help him to choose an investment. He has $6,000 to invest today for a period of two years. You identify a bank CD that pays an annual interest rate of 4.25 percent with the interest being paid quarterly. What will be the value of the investment in two years?
A) $6,550
B) $6,529
C) $6,107
D) $6,216
Correct Answer:
Verified
Correct Answer:
Verified
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