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Question 1 (0.2 points) Last national bank offers a CD paying 8% interest (compounded annually. If you invest $1000 how much
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Answer #1

Future Value = Present Value * (1+ Rate of Interest) ^ Time

= $ 1000 * ( 1+ 8%) ^ 8

= $ 1,850.93

Hence the correct answer is $ 1,850.93

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