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11 February, 13:00

A $100 deposit today that earns an annual interest rate of 10% is worth how much at the end of two years? assume all interest received at the end of the first year is reinvested the second year.

a. $121

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  1. 11 February, 13:02
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    Fv=100 * (1+0.1) ^ (2) = 121
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