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Solve the Problem. -Luis Invests $1000 into an Account Earning Interest at a Interest

Question 122

Multiple Choice

Solve the problem.
-Luis invests $1000 into an account earning interest at a rate of 4% compounded annually. Find the amount in the account at the end of 2 years.


A) $1081.60
B) $1040.00
C) $1124.86
D) $81.60

Correct Answer:

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