Andre De Quadros Bought a $3,500, 9-Month Certificate of Deposit

question 65

Multiple Choice

Andre De Quadros bought a $3,500, 9-month certificate of deposit (CD) that would earn 9.0% annual simple interest. What is the value of the CD when it matures? Round your answer to to the nearest cent.

• A)$3,578.75
• B)$3,657.50
• C)$3,815.00
• D)$3,710.00
• E)$3,736.25

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Definitions:

Anthony Giddens

A British sociologist known for his theory of structuration and his holistic view of modern societies.

Ulrich Beck

A prominent sociologist known for his work on risk society, individualization, and reflexive modernization.

Zygmunt Bauman

A sociologist known for his analyses of modernity, postmodernity, and consumerism, and for introducing the concept of "liquid modernity".

Multidimensional

Having or relating to multiple facets, aspects, or dimensions.