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A certificate of deposit often charges a penality for withdrawing funds before the maturity date. If the penaity involves two months of interest, what would

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A certificate of deposit often charges a penality for withdrawing funds before the maturity date. If the penaity involves two months of interest, what would be the amount for early withdrawal on a CD paying 8 percent and valued at $22,000 ? (Do not round intermediate calculations. Round your answer to 2 decimal places.)

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