## A $$2$$-year certificate of deposit is purchased for $$k$$ dollars. If the certificate earns interest at an annual rate

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### A $$2$$-year certificate of deposit is purchased for $$k$$ dollars. If the certificate earns interest at an annual rate

by Vincen » Sat Nov 27, 2021 4:16 am

00:00

A

B

C

D

E

## Global Stats

A $$2$$-year certificate of deposit is purchased for $$k$$ dollars. If the certificate earns interest at an annual rate of $$6$$ percent compound quarterly, which of the following represents the value, in dollars, of the certificate at the end of $$2$$ years?

A. $$k(1.06)^2$$
B. $$k(1.06)^8$$
C. $$k(1.015)^2$$
D. $$k(1.015)^8$$
E. $$k(1.03)^4$$