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[Solution Library] CD rollover. Ronnie invested P dollars in a 2-year CD with an annual rate of return of r. After the CD rolled over three times, its value

Question: CD rollover. Ronnie invested \(P\) dollars in a 2-year CD with an annual rate of return of \(r\). After the CD rolled over three times, its value was \(P\left((1+r)^{2}\right)^{3} .\) Which law of exponents can be used to simplify the expression? Simplify it.

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