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You invested $10,000 at 12% interest rate compounded monthly, what is your accumulated amount at the end of year 2?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

18.c

You invested $10,000 at 12% interest rate
compounded monthly, what is your accumulated
amount at the end of year 2?

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