Oksana deposits ($ 5,000) in a CD that earned (3 %) compounded annually and was worth ($

Question:

Oksana deposits $\$ 5,000$ in a CD that earned $3 \%$ compounded annually and was worth $\$ 5,627.54$ after 4 years. Had Oksana invested in a CD with simple interest, how much would the CD have been worth after 4 years? How much more did Oksana earn using compound interest?

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