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19 April, 23:48

If a person invests $230 at 10% annual interest fund the approximate value of the investment at the end of 10 years

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  1. 19 April, 23:52
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    If it is simple interest rate

    10% of $230 = 0.1 x 230 = 23

    23 x 10 years = 230

    total = 230 + 230 = $460

    If it is compounded

    230 (1+0,1) ^10 = $596.56
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