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Suppose you have $3,000 and plan to purchase a 5-year certificate of deposit (CD) that pays 12% interest, compounded monthly . How much will you

Suppose you have $3,000 and plan to purchase a 5-year certificate of deposit (CD) that pays 12% interest, compounded monthly. How much will you have when the CD matures?

$3,548.27

$4,224.13

$3,210.34

$4,012.92

$5,450.09

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