Money to purchase home entertainment system

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Reference no: EM131825457

Kirk can take his ?$950 income tax refund and invest it in a?36-month certificate of deposit at 6 % compounded? monthly, or he can use the money to purchase a home entertainment system and put ?$31 a month in a bank savings account that will pay him 6% annual interest. Which choice will give him more money at the end of three? years?

Reference no: EM131825457

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