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Find what is the future value of investment

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Problem 1: An investor puts $200 in a money market account TODAY that returns 3% per year with monthly compounding. The investor plans to keep his money in the account for 2 years. what is the future value of his investment when he closes the account two years from today?

Option 1. $212.35
Option 2. $215.00
Option 3. $185.84
Option 4. $205.10

Reference no: EM132907814

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