You Deposit $3,000 into an N-Year Certificate of Deposit That

question 375

Multiple Choice

You deposit $3,000 into an N-year certificate of deposit that pays 4.5 percent annual interest, and at the end of the N years you have $3,738.54. What is the number of years, N?

• A)4
• B)5
• C)6
• D)7

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Definitions:

With Previous

A timing option in animations and multimedia presentations, indicating an action to occur simultaneously with the previous animation or action.

On Click

An event trigger in computer programming that activates a function or procedure when an object, such as a button, is clicked.

After Previous

A timing option in presentations that triggers an animation or transition to occur after the previous action has completed.

Trigger

An event or condition that causes a specific action or series of actions to be executed within a program or system.