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How much will the CD be worth

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Question 1 - Isabel buys a $2050 certificate of deposit (CD) that earns 6.3% interest that compounds monthly. How much will the CD be worth in 14 years? Express your answer rounded to the nearest cent.

Question 2 - Isabel gets an offer from another bank that is also paying 6.3% on CD's, but is compounding interest daily. How much will a $2050 CD be worth in 14 years? Express your answer rounded to the nearest cent.

Reference no: EM132484477

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