Quick Finance Question

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You just received a $10,000 gift from your grandmother and you wish to save it for a rainy day. If interest is 8% compounded daily, what is the value of this gift in 5 years?

 

$14,693.28

$14,917.59

$14,215.02

$10,010.96

None of the above

 

*Please show me the work and how you got to the solution of the problem, thanks!

    • 11 years ago
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