An investor invests 20,000 in a four-year Certificate of Deposit (CD) that annually pays interest of 3%. The annual CD interest payments are automatically reinvested in a separate savings account at a stated annual interest rate of 2% compounded monthly. At maturity, the value of the combined asset is closest to:

Question 3 options:

	22,890.
	22,470.
	22,590.
	22,950.