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PaulKet PaulKet
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Posts: 488
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6 years ago
If you place $100 in a bank account that pays 6% at the end of each year, and you leave your $100 and all your interest in the bank, how much will you have in the bank at the end of seven years with annual compounding?
A) (106)7.
B) 7 ∗ (106).
C) 100 ∗ (1.60)7.
D) 100 ∗ (1.06)7.
Textbook 
Microeconomics: Theory and Applications with Calculus

Microeconomics: Theory and Applications with Calculus


Edition: 4th
Author:
Read 42 times
1 Reply
The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.

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