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:
d. $3,213.54
Nope,
you only
get your principal back once, not twice. Please see top of page 417
and/or Session 2, Page 8, Pictures D - F.