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Suppose you have $1,375 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have

Suppose you have $1,375 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures? $1,404.44 $1,633.07 $1,535.08 $1.731.05 $1,502.42

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