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(Solved): Andover Bank and Lowell Bank each sell one-year certificates of deposit (CDs). The interest ra ...



Andover Bank and Lowell Bank each sell? one-year certificates of deposit? (CDs). The interest rates on these CDs are given in the table below for a? three-year period. Part 2 Bank 2022 2023 2024 Andover Bank 44?% 66?% 2020?% Lowell Bank 1010?% 1010?% 1010?% Part 3 Suppose you deposit ?$2 comma 0002,000 in a CD in each bank at the beginning of 2022. At the end of? 2022, you take your ?$2 comma 0002,000 and any interest earned and invest it in a CD for the following year. You do this again at the end of 2023. Part 4 At the end of? 2024, the interest over this? three-year period at Andover Bank is ?$enter your response here. ?(Enter your response rounded to the nearest penny?.) Part 5 At the end of? 2024, the interest over this? three-year period at Lowell Bank is ?$enter your response here. ?(Enter your response rounded to the nearest penny?.) Part 6 At the end of? 2024, you will have earned more on your ? Lowell Andover Bank? CD, because



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