Multiple Choice
Suppose you have $2,350 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest,compounded annually.How much will you have when the CD matures?
A) $2,539.87
B) $2,791.06
C) $2,428.22
D) $3,488.83
E) $3,153.90
Correct Answer:
Verified
Correct Answer:
Verified
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