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shepherd shepherd
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Posts: 2986
5 years ago
Juan has $1,000 that he would like to invest in a CD. His bank offers two alternatives, i.e., a one-year CD paying 6% or a two-year CD paying 9 percent. Juan has been reading that interest rates are rising and, based on his research, he estimates that by year-end the rate on one-year CDs will increase to 10 percent. What alternative would give Juan the most interest and what would the total interest be?
A) One two-year CD returning $180 interest      B) One two-year CD returning $1,900 interest
C) Two one-year CDs returning $160 interest      D) Two one-year CDs returning $120 interest
Textbook 

Personal Finance


Edition: 5th
Author:
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tityltityl
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5 years ago
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wrote...
5 years ago
Exactly what I wanted!
wrote...
5 years ago
My pleasure
wrote...
A month ago
Thanks!
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