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05-06-2023
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Assume that a one-year CD purchased for $3000 pays an APR of 10% that is compounded semi-annually. How much is in the account at the end of each compounding period? (Calculate the interest and compound it each period rather than using the compound interest formula. Round your answers to the nearest cent.)
first period _
second period _
How much total interest does it earn? (Round your answer to the nearest cent.)
What is the APY?

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