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29 November, 04:47

Liam puts $2000 in the bank with a 3% annual interest rate compounded annually. if Liam does not touch his money how much money will he have after two years?

A.) 2,000.06

B.) 2,060.00

C.) 2,120.00

D.) 2,121.80

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  1. 29 November, 06:58
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    D. He will have $2,121.80.

    After one year at 3% interst, $2000 becomes $2000 x 1.03 = $2,060.

    During the second year, that $2060 x 1.03 becomes $2121.80
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