You Have Invested $5,000 into a Certificate of Deposit for 5

question 10

Multiple Choice

You have invested $5,000 into a certificate of deposit for 5 years. It pays a 6% annual nominal rate, compounded semiannually. What is the value of the certificate of deposit at the end of 5 years?

• A)$6,691.13
• B)$6,719.58
• C)$28,185.46
• D)$8,954.24

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Definitions:

Average Variable Costs

The total variable costs of production divided by the quantity of output produced.

Workers

Individuals engaged in any form of employment, contributing labor for the production of goods or services.

Units

Basic quantities or measures adopted to quantify and measure variables.

Marginal Revenue

The additional income earned by selling one more unit of a good or service.