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Formula to determine how much interest the cd earns

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Reference no: EM131185897

Suppose you buy a two-year CD for $10,000 from First Command Bank.

Assume monthly compounding. Use the APR from the below Table 4.1 and the compound interest formula to determine how much interest the CD earns for you at maturity.

The Table says APR is 3.84%

Reference no: EM131185897

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