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What is the compound interest on $1000 at an interest rate of 5% per annum for 2

Practice Questions

Q1
What is the compound interest on $1000 at an interest rate of 5% per annum for 2 years?
  1. $102.50
  2. $105.00
  3. $110.25
  4. $100.00

Questions & Step-by-Step Solutions

What is the compound interest on $1000 at an interest rate of 5% per annum for 2 years?
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