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A bank offers a CD that pays a simple interest rate of 9.5%. How much must you put in this CD now in order

A bank offers a CD that pays a simple interest rate of 9.5%. How much must you put in this CD now in order to have $1,000 for a home-entertainment center in 6 years. The present value that must be invested to get $1,000 after 6 years at an interest rate of 9.5% is $ the nearest cent.) (Round up to

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