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.
14. The amount of money that could be expected when
the CD is cashed in two years from now is:
c. $243.54
Nope,
don't you
get your principal back? Please see top of page 417
and/or Session 2, Page 8, Pictures D - F.
Return to Homepage | Question #15