Questions 11-15 all refer to the following situation: The First Ojai National Bank advertises a CD that pays 8.2% simple interest for two years. Suppose we were to invest $1,485 in such a CD.

12. The amount of interest earned in the first year is:

d. $12,177.00

Nope, but I want you to be my banker. Please, oh please be my banker. I think the correct answer will be a lesser amount. Please re-calculate. Remember, 8.2% is .082 when converted to decimal, not .82.

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