BACHELOR OF BUSINESS ADMINISTRATION

BUSINESS ADMINISTRATION

BUSINESS MATHEMATICS

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Christina Stratton invested $8, 000 in a certificate of deposit for 4 years. The certificate earns interest at an annual rate of 8.25 percent compounded quarterly. The amount per $1.00 is 1.085088. What is the effective annual yield?
A
3.630%
B
7.032%
C
8.509%
D
2.143%
Explanation: 
There is 1 question to complete.