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How would you use exponents if I wanted to purchase a $15,000 certificate deposit with an interest rate of 2.7% compounded quarterly? How much money

How would you use exponents if I wanted to purchase a $15,000 certificate deposit with an interest rate of 2.7% compounded quarterly? How much money would I have in three years? What if the interest was compounded annually? Would the amount of money I have in three years change? What is the significance of the exponents in my example?

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