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An investment grows at a fixed annual rate of \(10\%\). If there are no withdrawals during the investment period, and

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An investment grows at a fixed annual rate of \(10\%\). If there are no withdrawals during the investment period, and

by BTGmoderatorLU » Fri Sep 01, 2023 8:45 am

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An investment grows at a fixed annual rate of \(10\%\). If there are no withdrawals during the investment period, and the interest earned is reinvested in the same investment every year, what is the total amount at the end?

1) At the end, the value of the investment has increased by \(21\%\)

2) If at the beginning of the last year of the investment, \(\$500\) had been withdrawn from the investment made, the investment worth at the end would be \(10\%\) less than its actual worth at the end

The OA is B
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