Question: 1 . 4 0 ( 2 0 points ) In order to make CDs look more attractive as an investment than they really are, some

1.40 (20

points

)

In order to make CDs look more attractive as an investment than they really are, some banks advertise that their rates are higher than their competitors' rates; however, the fine print says that the rate is based on simple interest. If you were to deposit $

10, 000

10 %

per year simple interest in a CD

,

what compound interest rate would yield the same amount of money in

3

years?

1 . 4 0 ( 2 0 points ) In order to make CDs look

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