At the Beginning of 2018, Mary Purchased a 3-Year Certificate

question 60

True/False

At the beginning of 2018, Mary purchased a 3-year certificate of deposit (CD) for $8,760. The maturity value of the certificate was $10,000 and it was to yield 4.5%. She also purchased a Series EE bond for $6,400 with a maturity value in 10 years of $10,000. Mary must recognize $1,240 of income from the certificate of deposit in 2018, and $3,600 from the Series EE bonds in 2027.

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Definitions:

Guan Daosheng

A Chinese poet and painter from the Yuan Dynasty, known for her bamboo paintings and for being one of the first female artists to gain recognition in China.

Bamboo Groves

Naturally occurring or cultivated stands of bamboo, valued for their aesthetic beauty and practical uses in construction, art, and cuisine in many East Asian cultures.

Ink Tones

Variations and gradations in color and depth achieved through the manipulation of ink, especially in drawing, painting, and printmaking.

Joseon Dynasty

A Korean dynastic kingdom that lasted from 1392 to 1897, known for its significant cultural, artistic, and technological advancements.