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Justin Invests $4,000 in a Savings Account for Two Years

Question 94

Multiple Choice

Justin invests $4,000 in a savings account for two years. The account pays 2% interest compounded annually. How much interest income will Justin earn on this investment?


A) $80.00
B) $81.60
C) $160.00
D) $161.60

Correct Answer:

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