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What is the future value of $100 invested in an account for eight years that earns 10% annual interest, compounded semiannually (rounded to the nearest whole dollar)? a. $214.b. $216.c. $218.d. $220.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

What is the future value of $100 invested in an account for eight years that earns 10% annual interest, compounded semiannually (rounded to the nearest whole dollar)?
a. $214.
b. $216.
c. $218.
d. $220.

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