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Author Question: Juan has $1,000 that he would like to invest in a CD. His bank offers two alternatives, a one-year ... (Read 77 times)

wrbasek0

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Juan has $1,000 that he would like to invest in a CD. His bank offers two alternatives, a one-year CD paying 6% or a two-year CD paying 9%per annum. 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%. What alternative would give Juan the most interest and what would the total interest be?


◦ Two one-year CDs returning $120 interest
◦ Two one-year CDs returning $160 interest
◦ One two-year CD returning $180 interest
◦ One two-year CD returning $1,900 interest


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Marked as best answer by wrbasek0 on Apr 13, 2019

jharrington11

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wrbasek0

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Reply 2 on: Apr 13, 2019
YES! Correct, THANKS for helping me on my review


bigcheese9

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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