A 180-day CD offers an annualized interest rate of 1.10% and requires a minimum deposit of $25,000. The amount of interest that will be earned on this investment is
A) $135.62.
B) $275.00.
C) $137.50.
D) $2,750.00.
Answer: A
Explanation: A) $25,000 × 1.10% × 180/365 = $135.62
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