Suppose your bank CD has a current balance of $1,000. If it pays 6% interest per year, compounded over time, then how much will it be in 12 years?
A) $497
B) $1,000
C) $1,072
D) $2,012
Answer: D
Suppose your bank CD has a current balance of $1,000. If it pays 6% interest per year, compounded over time, then how much will it be in 12 years?
A) $497
B) $1,000
C) $1,072
D) $2,012
Answer: D