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Your local bank offers 4-year certificates of deposit (CDs) 12 % compounded quarterly. How much additional interest will you earn over 4 years on a

Your local bank offers 4-year certificates of deposit (CDs) 12 % compounded quarterly. How much additional interest will you earn over 4 years on a $10,000 CD that is compounded quarterly, compared with one that is compounded annually?

	a.	$6,050
	b.	$0
	c.	$312
	d.	$220

Please add calculations.

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