A Guide to Our Certificates of Deposit - PurePoint
(a) Bill bought a $3000, 9-month certificate of deposit (CD) that will earn 8% annual simple interest. Three months before the CD was due to mature, Bill needed his CD money, so a friend agreed to lend him money and receive the value of the CD when it matured. i. Find the value of the CD when it matures. 3 000 c'. o g — = eooo 3 000 dollars ii. ................
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