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A company purchases ( invests in ) a 6-month , $ 20,000 certificate of deposit ( CD ) on January 1 , 2021 . The

A company purchases ( invests in ) a 6-month , $ 20,000 certificate of deposit ( CD ) on January 1 , 2021 . The annual interest rate is 3 percent . In answering the following questions , show your work including labeling any calculations . a . What is the monthly interest income for this CD ? b What amount of interest receivable should the company report as of March 31 , 2021

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