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How much would you have using compound interest

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Reference no: EM131865948

Question - Suppose you have $1,000 to invest and you believe that you can earn 5% per year over the next ten years.

1. How much would you have at the end of 10years using simple interest?

2. How much would you have using compound interest?

3. How long will it take your $1,000 to double in value if it earns 5%compounded annually?

Reference no: EM131865948

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