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micheal has been saving his money and wants to invest it. after doing some research has decided to invest $20,000 into certificate of deposit
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micheal has been saving his money and wants to invest it. after doing some research has decided to invest $20,000 into certificate of deposit

User Betti
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Answer:

How much interest will michael earn on this cd in the first year, based on the nominal interest rate? $600

How much interest will Michael earn on this CD in the first year, based on the real interest rate? $200

This is correct 100%

User Jason Hall
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