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Tara deposits $5,000 in a certificate of deposit. The annual interest rate is 7%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years? round your answer to two
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17 votes
17 votes
Tara deposits $5,000 in a certificate of deposit. The annual interest rate is 7%, and the interest will be compounded monthly. How much will the certificate be worth in 10 years? round your answer to two decimal places.

User Kauna Mohammed
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1 Answer

8 votes
8 votes

Answer: $10048.31

Step-by-step explanation:

User Mohammad Zamanian
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