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certificate of deposit, is a type of savings account with a fixed rate and term, meaning you can only redeem it when the term is
"certificate of deposit," is a type of savings account with a fixed rate and term, meaning you can only redeem it when the term is over. If you open a CD with an eposit of $ and an APR of compounded monthly, what profit will you have earned when you redeem the CD in years? Round your answer to the cent, if necessary.
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