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5 . You deposit $ 2 5 , 0 0 0 . 0 0 initially in a certificate of deposit that pays 3 . 5

5. You deposit $25,000.00 initially in a certificate of deposit that pays 3.5% interest quarterly.
a. How much will your CD be worth in 4 years?
b. How much interest will you earn over the life of the CD?

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