You have $100 to invest. If you put the money into an account earning 5% interest compounded

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You have $100 to invest. If you put the money into an account earning 5% interest compounded annually, how much money will you have in 10 years? How much money will you have in 10 years if the account pays 5% simple interest?

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Principles of Managerial Finance

ISBN: 978-0134476315

15th edition

Authors: Chad J. Zutter, Scott B. Smart

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Question Posted: May 23, 2019 08:35 AM

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You have $100 to invest. If you put the money into an account earning 5% interest compounded

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With compound interest FV n PV1r n 100 1005 10 16289 o...View the full answer

Principles of Managerial Finance

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