John Anderson deposited $10,000 in a certificate of deposit (CD) for 3 years at 5%. At maturity, it will be worth: (Use time value tables or a financial calculator. Select the closest answer.)
A) $10,500.
B) $10,725.
C) $11,400.
D) $11,580.
E) $12,400.
Correct Answer:
Verified
Q48: The more frequently a bank compounds interest,
Q50: A check you issued last week has
Q51: Jane is a college student who withdraws
Q53: Whenever you write a check or make
Q54: Which of the following is a rented
Q55: When doing an account reconciliation, interest earned
Q56: Mary has calculated her adjusted balance as
Q58: A safe-deposit box in a bank can
Q61: Factors that typically influence the choice of
Q76: The minimum denomination of T-bills is:
A) $25.
B)
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents