Find the Compound Amount for the Certificate of Deposit

question 9

Multiple Choice

Find the compound amount for the certificate of deposit. Assume daily compounding using the following table. Round
to the nearest cent.
-Amount: $3,112
Rate: 4%
Years: 5

• A)$4,642.46
• B)$3,800.96
• C)$3,800.95
• D)$3,995.82

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Definitions:

Car Door

A movable barrier used for entry and exit, as well as security and protection of the occupants, found on the sides of automobiles.

Dentoalveolar Joint

A term that could describe the structural and functional relationship between teeth (dentition) and the alveolar bone, but not a commonly used term. More accurately referred to as the periodontal ligament.

Cervical Region

The upper part of the spine, consisting of the first seven vertebrae that form the neck.

Parietal Bones

Two bones forming the sides and roof of the cranium, each positioned on either side of the skull just behind the frontal bone.