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Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 7% interest, compounded annually. How much will you have

Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 7% interest, compounded annually. How much will you have when the CD matures?

$3,934.30

$3,186.79

$3,422.84

$3,816.27

$4,642.48

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