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14. The LaGelleys have $25,000 that they want to invest in a certificate of deposit. Granite Trust offers a 4-year certificate of deposit that

14. The LaGelleys have $25,000 that they want to invest in a certificate of deposit. Granite Trust offers a 4-year certificate of deposit that earns interest at 3.50% compounded quarterly. Hancock Cooperative Bank offers a 4-year certificate that earns interest at 3.25% compounded daily. (a) Which CD earns more interest? (b) By how much?

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