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Wk3Hw_FV2 Sara has $22,273 to invest in a bank certificate of deposit for 9 years. The bank is paying 12% interest per year compounded monthly.
Wk3Hw_FV2 Sara has $22,273 to invest in a bank certificate of deposit for 9 years. The bank is paying 12% interest per year compounded monthly. How much will Sara's investment be worth at the end of the 9 year period? (round to 2 decimal places) Use the correct formula from below to solve this problem. x*(1+r)^n x+(CF/(1+r)^1)+(CF/(1+r)^2)+(CF/(1+r)^3)+(CF/(1+r)^4). x+SQRT(1-r*n) Wk3Hw_FV2
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