A man decides to put 1000 into an account that pays, Financial Management

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A man decides to put 1000 into an account that pays

Question

1. A man decides to put $1000 into an account that pays interest monthly. The amount remains in the account for three years. If the annual interest is 6%, the balance at the end of the three years is closest to:

2. At what annual interest rate will $1,000 invested today be worth $2,000 in 10 years?

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Financial Management: A man decides to put 1000 into an account that pays

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