Question 18 (1 point) Two years ago, Mark purchased a $5,000, 3% compounded annually, 5-year...
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Question 18 (1 point) Two years ago, Mark purchased a $5,000, 3% compounded annually, 5-year CD with all interest reinvested. Suppose interest rates on 3-year CDs are now 3.5%. If there is a 6-month interest penalty on the original principal for early withdrawal, then Mark will in three years from early withdrawal and purchase of the new CD. Lose $32 Gain $2 Gain $32 Lose $34 Lose $2 Gain $34
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