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16. Future Value of Annuity. Kirk can take his $1,000 income tax refund and invest it in a 36-month cer- tificate of deposit at 3%,

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16. Future Value of Annuity. Kirk can take his $1,000 income tax refund and invest it in a 36-month cer- tificate of deposit at 3%, compounded monthly, or he can use the money to purchase a home enter- tainment system and put $30 a month in a bank savings account that will pay him 4% annual inter- est, compounded monthly. Which choice will give him more money at the end of three years

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