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Suppose you have $ 2 , 2 7 5 and plan to purchase a 5 - year certificate of deposit ( CD ) that pays

Suppose you have $2,275 and plan to purchase a 5-year certificate of deposit (CD) that pays 4.1% interest, compounded annually. How much will you have when the CD matures?
a. $2,786.84
b. $2,671.68
c. $2,781.22
d. $2,804.71
e. $2,368.28

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