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Your birthday is coming up and instead of other presents, your parents promised to give you $2,500 in cash. Since you have a part-time job
Your birthday is coming up and instead of other presents, your parents promised to give you $2,500 in cash. Since you have a part-time job and, thus, dont need the cash immediately, you decide to invest the money in a bank CD that pays an annual rate of 5.00 percent, compounded quarterly, for the next two years. How much money can you expect to earn in this period of time? (
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