Question

If an eighteen-month CD is purchased on February 13, 1998 (mm/dd/yyyy), when is the date of maturity?

a) August 13, 1999
b) August 13, 1998
c) August 13, 2000
d) August 13, 1997

Answer 1

The maturity date of an eighteen-month CD purchased on February 13, 1998, is August 13, 1999.

Step-by-step explanation:

The question asks us to calculate the maturity date of an eighteen-month Certificate of Deposit (CD) that was purchased on February 13, 1998. By adding 18 months to the purchase date, we can determine the date of maturity. Since February plus 18 months would bring us to August of the following year, and we need to consider non-leap years, the maturity date is August 13, 1999. Therefore, the correct answer is (a) August 13, 1999.