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There is a $100 five-year savings bonds that pay 2% interest, compounded annually. Sam buys one, and the next day interest rates go up -
There is a $100 five-year savings bonds that pay 2% interest, compounded annually. Sam buys one, and the next day interest rates go up - the bank now offers $100 savings bonds paying 3% interest compounded annually. How much is Sam's bond worth
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