## Shannon bought a CD for $750 that earns 3.8% APR and is compounded quarterly. The CD matures in 5 years. How much will this CD be wort

Question

Shannon bought a CD for $750 that earns 3.8% APR and is compounded

quarterly. The CD matures in 5 years. How much will this CD be worth at

maturity?

O A. $920.16

O B. $903.75

O C. $906.12

O D. $938.42

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2021-11-19T14:45:18+00:00
2021-11-19T14:45:18+00:00 2 Answers
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## Answers ( )

Answer:it is $906.12

Step-by-step explanation:Answer:A = $906.12

choice C.)

Step-by-step explanation:A = P (1 + (r/k) )^(kt)

k = 4

t = 5 years

r = 0.038

P = $750

A = 750 *(1 + (0.038/4))^(4*5)

A = 750*(1.0095)^20

A = $906.12419927