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JG Asset Services is recommending that you invest $950 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will

JG Asset Services is recommending that you invest $950 in a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures?

Select the correct answer.

a. $1,163.50

b. $1,137.10

c. $1,128.30

d. $1,154.70

e. $1,145.90

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