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Coach Beard is investing $ 7 , 5 0 0 in an eight - year Certificate of Deposit that pays a 6 . 2 5

Coach Beard is investing $

7, 500

in an eight

-

year Certificate of Deposit that pays a

6.25 %

nominal annual interest rate. If interest is compounded quarterly, how much will Coach Beard have when the CD matures?

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