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You receive an inheritance of $100,000 from your great grandmother. You spend $10,000 and put the remainder in a bank certificate of deposit that earns
You receive an inheritance of $100,000 from your great grandmother. You spend $10,000 and put the remainder in a bank certificate of deposit that earns 4 % interest compounding annually for 10 years. How much will you have at the end of the 10-year period when the CD matures?
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