If the Rate of a 24-Month CD Is 1

question 35

Multiple Choice

If the rate of a 24-month CD is 1.15% compounded daily, how much would need to be set aside in such a CD to have $25,000 at the end of 24-month term?

• A) $24,279.41
• B) $24,431.57
• C) $24,681.23
• D) $24,750.34

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Definitions:

High on Neuroticism

Describes individuals who score high on the trait of neuroticism, characterized by emotional instability, anxiety, moodiness, irritability, and sadness.

Extravert

An extravert is a person who is characterized by their outgoing, sociable, and energetic behavior, typically seeking stimulation from the external world.

Extraversion Introversion

A dimension of personality describing an individual's level of sociability and preference for outer activity versus inner reflection.

Stimulating Environment

Surroundings that provide intellectual, sensory, or social stimulation, contributing to cognitive and emotional growth and well-being.