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Bank Superior offers its customers semiannual compounding of savings while its competitors only offer annual compounding. You decide to buy a $5,000 certificate of deposit

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Bank Superior offers its customers semiannual compounding of savings while its competitors only offer annual compounding. You decide to buy a $5,000 certificate of deposit paying 4% for 4 years. How much more money do you earn from Bank Superior? FV Final amount of CD with annual compounding: Final amount of CD with quarterly compounding: Additional interest earned

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