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Suppose You Have $2,000 and Plan to Purchase a 10-Year

Question 85

Multiple Choice

Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 11.4% interest,compounded annually.How much will you have when the CD matures?


A) $6,063.44
B) $5,886.84
C) $5,357.02
D) $7,299.68
E) $6,769.86

Correct Answer:

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