Answered: If you deposit $10,000 in a bank for 2…

If you deposit $10,000 in a bank for 2 years at an interest rate of 5%, then the future value of your money after two years is: Select one: a. $10,000 b. $11,000 c. $10,500 d. $11,025.

Microeconomics

13th Edition

ISBN:9781337617406

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter16: Interest, Rent, And Profit

Section: Chapter Questions

Problem 1WNG

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If you deposit $10,000 in a bank for 2 years at an interest rate of 5%, then the future value of your money after two years is: Select one:

a. $10,000

b. $11,000

c. $10,500

d. $11,025.

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