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Your client invests 2 0 , 0 0 0 in a 4 year certificate of deposit that annual pays interest of 3 . 5 %

Your client invests

20, 000

in a

4

year certificate of deposit that annual pays interest of

3.5 % .

The annual interest payments are automatically reinvested in a separate account at a stated annual rate of

2 %

compounded monthly. What is the total FV of this investment?

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