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Goodmr104:
Suppose you buy a CD for $300 that earns 3% APR and is compounded quarterly. The CD matures in 3 years. How much will this CD be worth at maturity? A. $303.01 B. $328.14 C. $309.10 D. $309.12
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Mercury:
P = A(1+r)^t where P is the final amount, A is the initial investment (300), r is the interest rate (0.03) and t is time (3 yrs) plug in and evaluate for P
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