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A CD , or certificate of deposit, is a type of savings account with a fixed rate and term, meaning you can only redeem it
A CD or certificate of deposit, is a type of savings account with a fixed rate and term, meaning you can only redeem it when the term is over. If you open a CD with an initial deposit of $ and an APR of compounded monthly, what profit will you have earned when you redeem the CD in years? Round your answer to the nearest cent, if necessary.
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