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Paying the compounded interest rate
Course:- Business Economics
Reference No.:- EM13891898





Assignment Help >> Business Economics

Suppose my grand grandmother in 1909 put $100 in the bank account for me. The bank has been paying the compounded (annual compounding) interest rate of 5% per year. If I go and pick up this money now (that is in 2009) how much money will I get?




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