5. Which of the following best describes the amount of money you’ll have if you pur $1,000 into a savings account earning an annual interest rate of 2% compounded for 10 years? You can ignore the impact of inflation in this question.
A. Exactly $1,200
B. Slightly more than $1,200
C. Slightly more than $2,000
D. Exactly $2,000
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slightly more than $1200
that is $1240
that is $1240
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