Mohammed can get a certificate of deposit cd at his bank, Business Economics

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Mohammed can get a certificate of deposit cd at his bank

Mohammed can get a certificate of deposit (CD) at his bank that will pay 3.7% annually for 10 years. If he places $5530in this CD, how much will it be worth when it matures?

(a) Use the formula.

(b) Use the interest tables and interpolation.

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Business Economics: Mohammed can get a certificate of deposit cd at his bank

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