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$1,240 at 8% compounded annually for 2 years
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4 votes
$1,240 at 8% compounded
annually for 2 years

User MEX
by
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1 Answer

4 votes
The answer is $1,446.33. 1,240 x 8% = $99.20 $1,240 + $99.20 = $1,339.20. $1,339.20 x 8% = $107.13 $1,339.20 + $107.13 = $1,446.33. Hope I could help! :D
User Vicenrele
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