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How much interest will earn

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Reference no: EM132949731

You invest $3,000 in a certificate of deposit that matures after twelve years and pays 4 percent interest, which is compounded annually until the certificate matures.

Problem a. How much interest will you earn if the interest is left to accumulate?

Problem b. How much interest will you earn if the interest is withdrawn each year?

Reference no: EM132949731

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