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How much interest will you earn

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Reference no: EM133057924

Question - You invest $1,000 in a certificate of deposit that matures after twelve years and pays 5 percent interest, which is compounded annually until the certificate matures.

Required -

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

b. How much interest will you earn if the interest is withdrawn each year?

Reference no: EM133057924

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