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

question 40

Multiple Choice

Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 11.1% interest,compounded annually.How much will you have when the CD matures?

• A) $7,105.46
• B) $5,730.21
• C) $6,818.95
• D) $6,303.23
• E) $4,526.87

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