Suppose You Have $1,500 and Plan to Purchase a 5-Year

question 77

Multiple Choice

Suppose you have $1,500 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)$1,781.53
• B)$1,870.61
• C)$1,964.14
• D)$2,062.34
• E)$2,165.46

---

Definitions:

Legal and Ethical

Refers to practices and decisions that are both within the bounds of law and morally upright, often applied in business and professional settings.

Source Reliable

A reliable source is one that provides trustworthy and accurate information, verified through credible methods.

Information Correct

The accuracy and reliability of data or facts presented.

Global Economy

The interconnected worldwide economic activity that includes the exchange of goods and services, financial transactions, and the movement of capital across nations.