Abena invested ($ 1,000) in a CD that earned (4 %) compounded annually, and the CD was
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Abena invested \(\$ 1,000\) in a CD that earned \(4 \%\) compounded annually, and the CD was worth \(\$ 1,124.86\) after 3 years. Had Abena invested in a CD with simple interest, how much would the CD have been worth after 3 years? How much more did Abena earn using compound interest?
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