4. Find the amount of interest earned on $23,000 compounded quarterly at 7.42% for 40 years. 5. Find the effective interest rate to the nearest hundredth if the nominal interest rate is 10% compounded quarterly. 6. Kayla deposited $8000 in a CD (Certificate of Deposit) paying 5% compounded semiannually. What is the Maturity Value of the CD?

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