Tuesday 12 June 2012

Mr. Nailor invests $5,000 in a certificate of deposit at his local bank.

Mr. Nailor invests $5,000 in a certificate of deposit at his local bank. He receives annual interest of 8% for 7 years. How much interest will his investment earn during this time period?
A) $2,915
B) $3,570
C) $6,254
D) $8,570


 

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