Charley wants to have $950,000 when he retires in a year. If he currently has $900,000 to put in a 1-year CD, which of these APRs and compounding periods will allow him to reach his goal?

A. An APR of 5.42% compounded monthly
B. An APR of 5.43% compounded quarterly
C. An APR of 5.44% compounded semiannually
D. An APR of 5.34% compounded daily

Question

Charley wants to have $950,000 when he retires in a year. If he currently has $900,000 to put in a 1-year CD, which of these APRs and compounding periods will allow him to reach his goal?

 		A.	An APR of 5.42% compounded monthly
 		B.	An APR of 5.43% compounded quarterly
 		C.	An APR of 5.44% compounded semiannually
 		D.	An APR of 5.34% compounded daily

anonymous · Answer

b4 i try 2 figure it out imma say i suck at this so dont kill me if im wrong and what do you think it is

anonymous · Answer

i have no clue lol. @kag

anonymous · Answer

good cause i now realize i dont either haha @SarahEZZMcK

anonymous · Answer

dang :/

sarahezzmck · Answer

O.o I have no clue, hold on

sarahezzmck · Answer

@kewlgeek555 @iPwnBunnies @Marco,Phillip

anonymous · Answer

D.	An APR of 5.43% compounded quarterly

sarahezzmck · Answer

thank you Pj

anonymous · Answer

no problem

anonymous · Answer

thanks @SarahEZZMcK  &  @Marco,Phillip

sarahezzmck · Answer

I didnt really do anything lol but shurwelcome

anonymous · Answer

yes ma'am

anonymous · Answer

but thats incorrect the answer is A.