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Normandy Textiles had a cash inflow of $ 2 million, which it needs for a long - term investment at the end of one year.

Normandy Textiles had a cash inflow of $

2

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

3.75

percent. What will be the value of the investment at the end of the year?

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