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1. Aaron has a certificate of deposit that will be worth $6,800 at maturity. The market rate for CD's like this is 6.7% annually, with monthly compounding. If the CD is meant to mature 7 years after purchase, what was the price Aaron paid for the CD?

A. $4,259.82

B. $4,318.75

C. $971.43

D. $4,270.83

2. Aaron has a certificate of deposit that will be worth $6,800 at maturity. The market rate for CD's like this is 6.7% annually, with monthly compounding. If the CD is meant to mature 7 years after purchase, what was the price Aaron paid for the CD?

A. $4,259.82

B. $4,318.75

C. $971.43

D. $4,270.83

 

Reference no: EM133272645

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