Multiple Choice
Suppose you earn annually compounding interest of 10% (per year) on an initial investment of $1,000.Rounded to the nearest 100, what will your balance in 10 years be?
A) $11,000
B) $5,200
C) $2,600
D) $2,000
E) $1,600
F) None of the above
Correct Answer:
Verified
Correct Answer:
Verified
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