Suppose you have $1,425 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5%

Question:

Suppose you have $1,425 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?
a. $1,810.92
b. $1,692.45
c. $1,827.85
d. $2,047.87
e. $1,709.38

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

A Survey Of Mathematics With Applications

ISBN: 9780135740460

11th Edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

See More Books

Question Posted: Jan 09, 2013 02:40 AM

See More Questions

You have $1,500 and plan to purchase a 5-year certificate of deposit that pays 3.5% interest, compounded annually. How much will you have when the CD matures?
The Flagstar bank isn Michigan offered a 5 year certificate of deposit (CD) at 4.38% interest compounded quarterly.* On the same day on the Internet, Principle Bank offered a 5 year CD at 4.37%...
An electrical goods manufacturer plans to purchase a relay switch, a key component in many of its products, from an external source. It is estimated that the usage of this part in its production...
Net sales revenue, net income, and common stockholders' equity for Vallen Optical Corporation, a manufacturer of contact lenses, follow for a four-year period. Requirements 1. Compute trend...
Write an equation of each line. a. the line y = 4.7x translated down 3 units b. the line y = - 2.8x translated right 2 units c. the line y = - x translated up 4 units and left 1.5 units
Air at 27C and a velocity of 5 m/s passes over the small region As (20 mm x 20 mm) on a large surface, which is maintained at Ts = 127C. For these conditions, 0.5 W is removed from the surface As. In...
What is a Wohler curve?
Marshall and Wyatt, CPAs, has been the independent auditor of Interstate Land Development Corporation for several years. During these years, Interstate prepared and filed its own annual income tax...
3) Determine the magnitude of the moment of the force F about a) the x-axis, b) the y-axis, and c) the z-axes. 3 ft 4 ft 2 ft C B F= {41+ 12j3k}lb
Legendary for his business and investment acumen, Warren Buffett is frequently called the Oracle of Omaha after his birthplace in Omaha, Nebraska. As one of the worlds wealthiest business...
Sue now has $490. How much would she have after 8 years if she leaves it invested at 8.5% with annual compounding? a. $941.10 b. $724.64 c. $837.58 d. $1,148.14 e. $1,157.55
Suppose a State of New York bond will pay $1,000 ten years from now. If the going interest rate on these 10-year bonds is 4.1%, how much is the bond worth today? a. $669.10 b. $675.79 c. $628.96 d....
Apply the first and second derivative tests to the function f (y) = y a /e by to show that y = a/b is a unique critical point that yields the relative maximum f (a/b). Show also that f (y) approaches...
As technology has changed the way consumers search for and book hotels, hotel loyalty programs also have evolved. Road warriors, those who travel extensively for business, have traditionally favored...
You got bit by the entrepreneurial bug after taking an entrepreneurship class. You are at the point of deciding whether to leave college to launch a business. After all, some famous entrepreneursfor...
How Do Food Banks Help? 1:30 minutes https://www.youtube.com/watch?v=IdJnLj-ksVk Consider this video from Food Banks Canada. Comment on how a video such as this inspires could be used to inspire a...
Eddie Obeng: Smart Failure for a Fast-Changing World12:33 minutes https://www.youtube.com/watch?v=EjSuaeVfE9I Obeng talks about our ever-changing world, how our learning has changed and the...
The X Model of Employee Engagement: Maximum Satisfaction Meets Maximum Contribution7:43 minutes https://www.youtube.com/watch?v=gZ3wxgog4nc Consider the following: How can you engage employees in...
Suppose you are a plant manager considering the purchase of an automated assembly line. What issues would you consider before proceeding?
1) The government decided to reduce taxes on fast-food to increase revenue. The government assumes that fast-food products have a) An inelastic demand b) An elastic demand c) A demand curve that is...
Gillian purchased 10,000 ordinary shares in Downtown plc in January 2015 for 20,000. In October 2020, Upmarket plc acquired the whole of the share capital of Downtown plc following a take-over bid....
The following are nine global business terms used in this chapter: Each of the following statements may describe one of these terms. For each statement, indicate the global business term described,...
The following are nine global business terms used in this chapter: Each of the following statements may describe one of these terms. For each statement, indicate the global business term described,...
For each of the following scenarios, use the current exchange rates in The Wall Street Journal or from an Internet site such as www.xe.com/ucc to compute the required amount: a. A Citron automobile...
What is the expected rate of return on a project that requires an investment of $106 today and generates cash inflows of $7, $17 and $122 in each of the next 3 years?
A trader opens a new position by writing two put option contracts. Each contract is on 100 shares of Exxon Mobil common stock. The option premium is $6.06, the strike price is $50, and the stock...
On a particular day, there were 300 stocks that advanced on the NYSE and 800 that declined. The volume in advancing issues was 1000 and the volume in declining issues was 3000. What is the common...

Suppose you have $1,425 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5%

Question:

Step by Step Answer:

b 169245 A p1rn Where as P is nothing b...View the full answer

A Survey Of Mathematics With Applications

Students also viewed these Accounting questions