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

---

Definitions:

Default Value

A pre-set value assigned to a field or parameter that is used if no other value is entered by the user.

City Field

A specific field in a database or application designed to hold city names or locations as part of an address or geographic information.

Data Type

A classification that specifies the type of data that a variable, object, or database field can hold in programming and database management.

Rename

The action of changing the name of an object, such as a file, folder, or database element, to better reflect its content or purpose.