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You deposit $10,000.00 initially in a certificate of deposit that pays 2.25% interest monthly. How much will your CD be worth in 3 years? How

  1. You deposit $10,000.00 initially in a certificate of deposit that pays 2.25% interest monthly.
    1. How much will your CD be worth in 3 years?
    2. How much interest will you earn over the life of the CD?

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P/Y N 1/Y PV PMT FV Problem # 4a 4b

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