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Your mother has asked you to help her with an investment. She has $ 6 , 0 0 0 to invest today for 5 years.

Your mother has asked you to help her with an investment. She has $

6, 000

to invest today for

5

years. You've identified a CD at a bank that pays a nominal rate of interest of

5.08 %,

with interest paid quarterly. What will be the value of this investment

5

years from now?

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