JG Asset Services Is Recommending That You Invest $1,500 in a 5-Year

question 155

Multiple Choice

JG Asset Services is recommending that you invest $1,500 in 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

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Recognize the elements and terms necessary for an offer to be legally binding.