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    Total Interest

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    Mr. Nailor invests 5,000 in a certificate of deposit at his local bank. He receives annual interest of 8% for 7 years. How much interest will his investment earn during this time period? A)2,915, B)3,570, C)6,254, D)8,570

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    Solution Summary

    The solution explains how to calculate the total interest earned on a certificate of deposit.