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you are going to open a certificate of deposit $500 for 3 years with 2% interest. another bank offers a CD in which you must deposit $250 for 4 years with 3% interest. Which CD will earn more interest.

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1 answer

  1. 500 * 0.02 * 3 = 30

    250 * 0.03 * 4 = 30

    Why not deposit 500 in the second bank?

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