At Maturity, a Deposit of $6,000 in a Certificate of Deposit

question 47

Multiple Choice

At maturity, a deposit of $6,000 in a certificate of deposit (CD) for 10 years at 3% will be worth: (Select the closest answer.)

• A)$7,340.
• B)$7,800.
• C)$8,064.
• D)$8,678.
• E)$9,005.

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Definitions:

Specific

Specific refers to clearly defined, precise, and explicit details or criteria that leave no room for ambiguity.

Measurable

Capable of being quantified or precisely assessed, often through numeric indicators or specific observations.

Evaluation

The process of assessing or determining the value, quality, or effectiveness of something through analysis and comparison.

Organizational Structure

The system used to define a hierarchy within an organization, outlining the roles, responsibilities, and relationships between individuals within the entity.