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David invests $ 1 0 3 0 0 0 in a 3 - year certificate of deposit earning 5 % at his local bank. Which

David invests $ $103000$ in a $3 -$ year certificate of deposit earning $5 %$ at his local bank. Which time value concept would be used to determine the maturity value of the certificate?

Select answer from the options below

Present value of one

Future value of one

Present value of an annuity due

Future value of an ordinary annuity

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