Your Bank Offers a 10-Year Certificate of Deposit (CD)that Pays

question 114

Multiple Choice

Your bank offers a 10-year certificate of deposit (CD) that pays 6.5% interest, compounded annually.If you invest $2, 000 in the CD, how much will you have when it matures?

• A) $3, 754.27
• B) $3, 941.99
• C) $4, 139.09
• D) $4, 346.04
• E) $4, 563.34

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Definitions:

File Transfer Protocol (FTP)

A protocol used to upload and download files from one computer to another over the Internet.

E-mail Messages

Digital messages sent electronically from one user to another over a network, primarily using the Internet.

Client/server Model

An architecture dividing applications into two roles: clients request services, and servers provide services, supporting networked, application service requests.

TCP

Transmission Control Protocol, a fundamental protocol in the Internet protocol suite that enables reliable, ordered, and error-checked delivery of a stream of bytes between applications running on hosts communicating via an IP network.