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You invest $3,000 in a certificate of deposit that matures after nine years and pays 5 percent interest, which is compounded annually until the 5
You invest $3,000 in a certificate of deposit that matures after nine years and pays 5 percent interest, which is compounded annually until the 5 certificate matures. Use Appendix A to answer the questions. Round your answers to the nearest dollar. a. How much interest will you earn if the interest is left to accumulate? $ b. How much interest will you earn if the interest is withdrawn each year? $
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