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Kim invested $5,000 in a 3-year Certificate of Deposit (CD) that pays 2.3% interest compounded annually. What will the CD be worth at the end of 3 years? A $5,034.50 B $5,060.83 C $5,435.00 D$5,353.00
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5 votes
Kim invested $5,000 in a 3-year

Certificate of Deposit (CD) that pays
2.3% interest compounded annually.
What will the CD be worth at the end of
3 years?
A $5,034.50
B $5,060.83
C $5,435.00
D$5,353.00

User NanoWizard
by
4.5k points

1 Answer

5 votes

Answer:

D

Step-by-step

around 117 a year interest

5000 +353 = 5353

User Mikdore
by
3.9k points
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