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An investor has accumulated $8,000 and is looking for the best rate of return that can be earned over the next year. A bank savings

An investor has accumulated $8,000 and is looking for the best rate of return that can be earned over the next year. A bank savings account will pay 8%. A one-year bank certificate of deposit will pay 10%, but the minimum investment is $11,000. Required: Calculate the amount of return the investor would earn if the $8,000 were invested for one year at 8%

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