A certificate of deposit (CD) is similar to a savings account, but deposits are generally held to maturity They usually offer higher rates than savings accounts because they tie up" money for a period of time and often require a minimum deposit. A 3-year CD At a certain bank has a nominal rate of 2.872% and an effective annual yield of 2.900% If 500 is deposited with this bank, how much will be in the account at the end of 3 years