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Math  /  Numbers & Operations

QuestionHow much interest is earned on a CD with a 2 year fixed maturity, if the initial investment is $660\$ 660 and the annual interest rate is 3.4%3.4 \% ? Interest = \$ [?]
Round your answer to the nearest hundredth. Submit

Studdy Solution
Calculate the interest earned:
I=660×0.034×2=44.88 I = 660 \times 0.034 \times 2 = 44.88
The interest earned on the CD is:
$44.88\boxed{\$44.88}

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