Question: Suppose you have $ 2 , 1 0 0 and plan to purchase a 1 0 - year certificate of deposit ( CD ) that

Suppose you have $2,100 and plan to purchase a 10-year certificate of deposit (CD) that pays 12.2% interest, compounded annually. How much will you have when the CD matures?
a. $2,356.20
b. $6,639.69
c. $5,917.73
d. $6,863.21
e. $7,713.90

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