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Interest rate the bank pays year

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Reference no: EM131470925

If you invest $100 today in a bank account that pays a time interest at the end of each year and you leave the interest (you leave the interest you collect from the bank from the year in the bank from the first year in the bank to collect interest during the second year). If you have $121 at the end of the second year what is the interest rate the bank pays each year on your account. Please show work.

Reference no: EM131470925

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