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1. How much do you have to place in a bank which pays 1% interest per annum (compounded a nnually), so that you will have

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1. How much do you have to place in a bank which pays 1% interest per annum (compounded a nnually), so that you will have $100 in it in 10 years? FV (Hint: PV = 2 (1+r)n O a. $89.00 O b. $90.50 O c. $90.00 O d. $89.50

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