单选题
A 2-year certificate of deposit is purchased for k dollars. If the certificate earns interest at an annual rate of 6 percent compounded quarterly, which of the following represents the value, in dollars, of the certificate at the end of the 2 years? (A) (1.06)2k (B) (1.06)8k (C) (1.015)2k (D) (1.015)8k (E) (1.03)4k
【正确答案】
D
【答案解析】[解析] certificate of deposit简称CD，是美国金融市场上可流通的一种金融产品，用k美元购买，是指这个定期存款单上有k美元，因为季度复利，所以每季度的利率为6%÷4=1.5%，而两年有8个季度，所以两年末这张存款单上的价值为k(1.015)2美元。