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Suppose you have $3,000 and plan to purchase a 5-year certificate of deposit (CD) that...

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Finance

Suppose you have $3,000 and plan to purchase a 5-year certificate of deposit (CD) that pays 12% interest, compounded monthly. How much will you have when the CD matures? A. $3,210.34 B. $5,450.09 C. $4,224.13 D. $3,548.27 E. $4,012.92

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