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Abena invested $1,000 in a CD earning what annual rate?

A4 per cent
B8 per cent
C6 per cent
D9 per cent
Answer & Solution
Correct answer: A. 4 per cent
1. The interest was compounded annually. 2. The term ran for three years. 3. The rate was 4 per cent. _Source: OpenStax, Contemporary Mathematics, Ch 6 'Money Management'_
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