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What is the monthly interest income for this cd

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Reference no: EM133025844

Question - A company purchases (invests in) a 6-month, $20,000 certificate of deposit (CD) on January 1, 2021. The annual interest rate is 3 percent. In answering the following questions, show your work including labeling any calculations.

a. What is the monthly interest income for this CD?

b. What amount of interest receivable should the company report as of March 31, 2021?

Reference no: EM133025844

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