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Q(5) Compound Interest and Certificate of Deposit (CD). A CD is a savings instrument that many banks offer. It usually gives a higher interest rate,

Q(5) Compound Interest and Certificate of Deposit (CD). A CD is a savings instrument that many banks offer. It usually gives a higher interest rate, but you cannot access your investment for a specified length of time. Suppose you deposit $4000 in a CD paying 6.5% interest, compounded monthly. Find how much will you have in the account after 22 years

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