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QUESTION 4 Steve invested $ 1 0 0 two years ago at 1 0 percent interest. The first year, he earned $ 1 0 interest

QUESTION

4

Steve invested $

100

two years ago at

10

percent interest. The first year, he earned $

10

interest on his $

100

investment. He reinvested the $

10 .

The second year, he earned $

11

interest on his $

110

investment. The extra $

1

he earned in interest the second year is referred to as:

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