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Dynoxo Textiles has a cash inflow of $1 million, which it needs for a long-term investment, at the end of one year. It plans to deposit the money in a bank CD that pays daily interest at an annual rate of 4.50 percent. What will be the value of the investment at the end of the year? (Round to the nearest dollar.)
Investors
Individuals or entities that allocate capital with the expectation of receiving financial returns.
Board of Directors
Members selected by the corporation's shareholders to govern and decide on important matters concerning the company's administration.
Chief Executive Officer
The highest-ranking executive in a company, responsible for making major corporate decisions, managing overall operations, and acting as the main point of communication between the board of directors and corporate operations.
Corporation
A legal entity that is separate and distinct from its owners, capable of conducting business, owning property, and being liable for legal actions.
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