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5 A $10,000 certificate of deposit earns interest of 8 percent per year, compounded semian- nually. Complete the following table with regard to semiannual compounding.

5 A $10,000 certificate of deposit earns interest of 8 percent per year, compounded semian- nually. Complete the following table with regard to semiannual compounding. What is total interest over the 2-year period? Semiannual Period 1 3 4 (P) Principal $10,000 Interest $400 (S= P + I) Compound Amount $10,400.00

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