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please explain step by step Mai received a $1200 bonus. She decided to invest it in a 5-year certificate of deposit (CD) with an annual
please explain step by step
Mai received a $1200 bonus. She decided to invest it in a 5-year certificate of deposit (CD) with an annual interest rate of 1.49% compounded monthly. Answer the questions below. Do not round any intermediate computations, and round your final answers to the nearest cent. If necessary, refer to the list of financial formulas. (a) Assuming no withdrawals are made, how much money is in Mai's account after 5 years? (b) How much interest is earned on Mai's investment after 5 years? $0Step by Step Solution
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