Question: To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors' rates; however, the fine

To make CDs look more attractive than they really are, some banks advertise that their rates are higher than their competitors' rates; however, the fine print says that the rate is a simple interest rate. If a person deposits $10,000 at 10% per year simple interest, what compound interest rate would yield the same amount of money in 3 years?

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