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Suppose you have $850 and plan to purchase a 5 -year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you

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Suppose you have $850 and plan to purchase a 5 -year certificate of deposit (CD) that pays 3.5% interest, compounded annually. How much will you have when the CD matures? a. $879.75 b. $1,011.03 c. $975.39 d. $1,015.74 e. $1,009.53

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