Question:
Marie bought a 1-year certificate of deposit and the annual interest earned on the deposit is 6 percent compounded semi-annually. What was the amount invested, if the interest earned on the certificate at maturity is 60.9?
Marie bought a 1-year certificate of deposit and the annual interest earned on the deposit is 6 percent compounded semi-annually. What was the amount invested, if the interest earned on the certificate at maturity is 60.9?
Updated On: Oct 21, 2024
- ₹ 100
- ₹ 1,000
- ₹ 1,010
- ₹ 1,100
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The Correct Option is B
Solution and Explanation
The correct answer is (B): ₹ 1,000
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