Continuing with the CD example, suppose your bank offers you a CD with a two-year maturity, a
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Continuing with the CD example, suppose your bank offers you a CD with a two-year maturity, a stated annual interest rate of 8 percent compounded quarterly, and a feature allowing reinvestment of the interest at the same interest rate. You decide to invest
$10,000. What will the CD be worth at maturity?
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