True/False
A company invests $10,000 at 7% compounded annually. At the end of the second year, the company should have $11,400 in the fund.
$10,000 + ($10,000 x 7%) + [($10,000 + ($10,000 x 7%)) x 7%] = $11,449 or
$10,000 x 1.07 x 1.07 = $11,449
Correct Answer:
Verified
Correct Answer:
Verified
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