Multiple Choice
Suppose you have $1,375 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) $1,404.44
B) $1,633.07
C) $1,535.08
D) $1,731.05
E) $1,502.42
Correct Answer:
Verified
Correct Answer:
Verified
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