Question: You place $ 5 , 0 0 0 in a one - year CD ( Certificate of Deposit ) at your bank. The bank is

You place $5,000 in a one-year CD (Certificate of Deposit) at your bank. The bank is paying simple interest of 4% per year. How much interest will you earn in one year? How much interest will have accumulated after 7 months?
You place $5,000 in a one-year CD (Certificate of Deposit) at

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