Assume a 30-Month CD Purchased for $2500 Pays Simple Interest

question 28

Multiple Choice

Assume a 30-month CD purchased for $2500 pays simple interest at an annual rate of 6%. What is the balance at maturity?

• A)$375
• B)$2875
• C)$2950
• D)$2680

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Definitions:

Starve

To suffer or die from extreme or prolonged lack of food.

Medulla

A section of the brainstem involved in autonomic functions, such as breathing, heart rate, and blood pressure.

Cerebellum

A major structure of the hindbrain that is responsible for motor control, coordination, precision, and accurate timing, but does not initiate movement.

Temporal Lobe

A region of the cerebral cortex located beneath the temples, responsible for processing auditory information and involved in memory and emotion.