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You invest $1,000 in a certificate of deposit that matures after twelve years and pays 4 percent interest, which is compounded annually until the certificate

You invest $1,000 in a certificate of deposit that matures after twelve years and pays 4 percent interest, which is compounded annually until the certificate matures. Use Appendix A to answer the questions. Round your answers to the nearest dollar.

How much interest will you earn if the interest is left to accumulate? $

How much interest will you earn if the interest is withdrawn each year? $

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