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Assume that a one-year CD purchased for $4000pays an APR of10% that is compounded semi-annually. How much is in the account at the end of
Assume that a one-year CD purchased for $4000pays an APR of10% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.)
first period_______ $
second period _________$
How much total interest does it earn? (Round your answer to the nearest cent.)
____________$
What is the APY?
_______%
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