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. $10,500 c. $11,000 d. $11,025

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter19: The Basic Tools Of Finance

Section: Chapter Questions

Problem 1CQQ

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Question

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
O b. $10,500
Hc. $11,000
d. $11,025

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