You Have Discovered an Investment Opportunity That Earns a 10

question 40

Multiple Choice

You have discovered an investment opportunity that earns a 10% rate of interest compounded annually. What amount should you deposit today to have $10,000 in two years? Use the formula method. (Do not round any intermediary calculations, and round your final answer to the nearest dollar.)

• A) $8,227
• B) $8,264
• C) $8,333
• D) $9,000

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