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14 January, 11:28

What amount of cash would result at the end of one year, if $15,000 is invested today and the rate of return is 8%

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  1. 14 January, 12:30
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    Amount of cash at the end of one year is $16,200

    Explanation:

    Amount invested = $15,000

    Rate of return = 8%

    Amount at the end of one year = $15,000 + (0.08*$15,000) = $15,000 + $1,200 = $16,200
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