Nate wants to buy a CD for $1000 that earns 3% APR and is compounded quarterly for 5 years. He will be taxed on 20% of the interest that he earns. What is the total amount of interest Nate will earn, after taxes?
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Home » Mathematics » Nate wants to buy a CD for $1000 that earns 3% APR and is compounded quarterly for 5 years. He will be taxed on 20% of the interest that he earns. What is the total amount of interest Nate will earn, after taxes?