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Suppose you have $2,000 and plan to purchase a 10-year certificate of deposit (CD) that pays 3.0% 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 3.0% interest, compounded annually. How much will you have when the CD matures?
| 1. | $3,641.40 | |
| 2. | $2,960.49 | |
| 3. | $2,516.42 | |
| 4. | $3,019.70 |
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