Question: Peter invests ( $ 1 0 5 0 0 0 ) in a 3 - year certificate of deposit earning (

Peter invests \(\$ 105000\) in a 3-year certificate of deposit earning \(4\%\) at his local bank. Which time value concept would be used to determine the maturity value of the certificate?
Future value of an ordinary annuity.
Future value of one.
Present value of one.
Present value of an annuity due.

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