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You invest $550 in a bank that offers you 3% interest rate per year. You want to keep your money in the bank for ten

You invest $550 in a bank that offers you 3% interest rate per year. You want to keep your money in the bank for ten years. Calculate the interest on interest.

Question 16 options:

$10.93

$24.15

$43.19

$78.57

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