What Is the APY for a One-Year $4,000 Certificate of Deposit

question 58

Multiple Choice

What is the APY for a one-year $4,000 certificate of deposit with $560 interest?

• A) 5.6%
• B) 7%
• C) 8%
• D) 11.2%
• E) 14%

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Definitions:

Declarative Memory

The type of long-term memory that stores facts and events that can be consciously recalled or "declared."

Rehearsal

A cognitive process involving the repetitive review of information to enhance memory retention.

Implicit Memory

A type of long-term memory that is not consciously recalled, allowing individuals to perform tasks without conscious awareness of the learning process.

Visuo-Spatial Sketchpad

The visuo-spatial sketchpad is a component of working memory responsible for the temporary storage and manipulation of visual and spatial information.