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11. (10 pts) On January 1, 2020, you invest $100,000 in a 5-year CD that pays 4% interest. From 2020 to 2025, the inflation rate

11. (10 pts) On January 1, 2020, you invest $100,000 in a 5-year CD that pays 4% interest. From 2020 to 2025, the inflation rate is 7%. a) What is the balance of the CD on January 1, 2025? b) What is the 2020 value of the 2025 balance, adjusted for inflation?

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