Dhoni bought a 1-year, $40,000 certificate of deposit that paid interest at an annual rate of 6 percent compounded semiannually. What was the total amount of interest paid on this certificate at maturity?
Pick one:
A) $2456 B) $2436 C) $2446 D) $2466 E) $2426
6 percent compounded semiannually --&gt; 3% in 6 moths.   For the first 6 moths interest was 3% of $40,000, so $1200   For the next 6 moths interest was 3% of $41,200, so $1236   Total interest for 1 year was $1200+$1236=$2436   Answer : $2436  1200+ 1236= 
<gadget id="calculator">  1200+ 1236</gadget>
<output>2_436</output>
$2436   Answer : $2436
<result>B</result>
Dhoni bought a 1-year, $40,000 certificate of deposit that paid interest at an annual rate of 6 percent compounded semiannually. What was the total amount of interest paid on this certificate at maturity?