Tracey Deposits $5,000 in a Five-Year Certificate of Deposit Paying

question 66

Multiple Choice

Tracey deposits $5,000 in a five-year certificate of deposit paying 6% compounded semi-annually. How much will Tracey have at the end of the five-year period?

• A) $6,720
• B) $6,690
• C) $6,596
• D) $6,910

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Definitions:

Tea Party

A political movement in the United States advocating for lower taxes, reduced government spending, and conservative economic policies.

Reaganomics

An economic policy implemented during the presidency of Ronald Reagan, focusing on tax cuts, deregulation, and a decrease in government spending to fuel economic growth.

Poverty Threshold

The minimum level of income deemed adequate in a particular country to sustain a family or individual in terms of their basic needs for food, shelter, clothing, and other essentials.

Hispanics

A term referring to people from, or descendants of people from, Spanish-speaking countries, particularly in the context of the United States.