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1. If you deposit $1000 today at an interest rate of 6% , how much money will you have in the bank in five
1. If you deposit $1000 today at an interest rate of 6% , how much money will you have in the bank in five years if simple interest is used and if compound interest is used? A. Simple interest - $1,262.48; Compound interest - $1,240.00 B. Simple interest - $1,240.00; Compound interest - $1,262.48 C. Simple interest - $1,338.23; Compound interest - $1,300.00 D. Simple interest - $1,300.00; Compound interest - $1,338.23
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Principles of Finance
Authors: Scott Besley, Eugene F. Brigham
6th edition
9781305178045, 1285429648, 1305178041, 978-1285429649
