If a Married Couple Invests $1,900 in a 1-Year Certificate

question 272

Multiple Choice

If a married couple invests $1,900 in a 1-year certificate of deposit at 5% annual interest, compounded daily, how much interest will be earned during the year?

• A)$97.41
• B)$97.81
• C)$98.41
• D)$68.19
• E)$98.21

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Definitions:

Common Area

Shared spaces in a property such as hallways, lobbies, and amenities available to all occupants or tenants.

Legal Possession

Having control over a property or item according to law, with the right to use and manage it within legal parameters.

Tenancy-at-Sufferance

A situation where a tenant remains in possession of a property after the expiration of their lease, without the landlord's consent.

Sprinkler Systems

Fire suppression equipment that discharges water when a fire is detected, often installed in buildings for safety.