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A university endowment fund has invested $4 million in United States government certificates of deposit. Interest of 8 percent per year, compounded semiannually, will be

A university endowment fund has invested $4 million in United States government certificates of deposit. Interest of 8 percent per year, compounded semiannually, will be earned for 10 years. To what amount will the investment grow during this period? How much interest will be earned?

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