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Normandy Textiles had a cash inflow of $1 million, which it needs for a long-term investment at the end of one year. It plans to

Normandy Textiles had a cash inflow of $1 million, which it needs for a long-term investment at the end of one year. It plans to deposit this money in a bank CD that pays daily interest at a 5.0 percent. What will be the value of the investment at the end of the year? (Round to the nearest dollar.)

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