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Investigate the difference between compounding annually and simple interest for parts a-j.
a. Find the simple interest for a one-year CD for $5,000 at a 2.5% Interest rate.
b. Find the interest for a one-year CD for $5,000 at an interest rate of 2.5%, compounded annually.
c. Compare the results from parts a and b. select
d. Find the simple interest for a three-year CD for $5,000 at an Interest rate of 2.5%.
e. Find the interest for a three-year CD for $5,000 at an interest rate of 2.5%, compounded annually.
f. Compare the results from parts d and e. Select
g. Find the simple interest for a six-year CD for $5,000 at an interest rate of 2%.
h. Find the interest for a six-year CD for $5,000 at an interest rate of 2%, compounded annually.
I. Compare the results from parts g and h. Select
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