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Suppose you have $ 2 , 2 0 0 and plan to purchase a 1 0 - year certificate of deposit ( CD ) that

Suppose you have $2,200 and plan to purchase a 10-year certificate of deposit (CD) that pays 10.2% interest, compounded annually. How much will you have when the CD matures?
a. $2,424.40
b. $5,272.99
c. $6,451.48
d. $5,949.45
e. $5,810.84
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