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Suppose you have $ 2 , 0 2 5 and plan to purchase a 5 - year certificate of deposit ( CD ) that pays

Suppose you have $2,025 and plan to purchase a 5-year certificate of deposit (CD) that pays 3.8% interest, compounded annually. How much will you have when the CD matures?
a. $2,457.82
b. $2,440.12
c. $2,101.95
d. $2,444.37
e. $2,350.79

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