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Business, 11.02.2020 17:15 rleiphart1

A city invests $400,000 of its idle General Fund cash in a certificate of deposit (CD) on August 1, 2019. The CD pays interest of 1.5 percent per annum and matures on January 31, 2020. When it closes its books on December 31, 2019, how much interest receivable should the city accrue?

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A city invests $400,000 of its idle General Fund cash in a certificate of deposit (CD) on August 1,...
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