Andre De Quadros Bought a $2,000, 9-Month Certificate of Deposit

question 113

Multiple Choice

Andre De Quadros bought a $2,000, 9-month certificate of deposit (CD) that would earn 8.5% annual simple interest. What is the value of the CD when it matures? Round your answer to to the nearest cent. ​

• A) $2,042.50
• B) $2,085.00
• C) $2,170.00
• D) $2,113.33
• E) $2,127.50

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Definitions:

Measure of Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution.

Parameter

A numerical characteristic or measure that describes an aspect of a population.

Statistic

A single measure that is calculated from data to summarize or describe a characteristic of a sample.

Sample

A selection of individuals or items from a larger group or set that is used to gather and analyze data representative of the whole.