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29 October, 23:52

You put $201 into a investment at 9% for four years. What will be the balance be at the end of four years?

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  1. 30 October, 00:11
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    Depends if it is compounding interest or not. But assuming it is:

    $201 x. 09 = 18.09 (interest) = $219.09 (year 1)

    $219.09 x. 09 = 19.72 (interest) = $238.81 (year 2)

    $238.81 x. 09 = 21.49 (interest) = $260.30 (year 3)

    $260.30 x. 09 = 23.43 (interest) = $283.73 (year 4)
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