ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is the total amount accumulated after three years if someone invests $1, 000 today with a simple annual interest rate of 5 percent?
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$1015
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$1150
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$1005
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$1050
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$1100
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Explanation:
Detailed explanation-1: -= Amount invested today * annual interest rate * number of years. = $1, 000 * 5% * 3. = $150.
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