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CISI level 3 Certificate in Wealth & Investment Management ICWIM Question # 55 Topic 6 Discussion

ICWIM Exam Topic 6 Question 55 Discussion:
Question #: 55
Topic #: 6

An investor deposits £1,000 into an account that pays interest at the rate of 3% per year. If the interest is credited to the account at the end of the year and the investor leaves the money in the account for 5 years, how much money will be in the account at the end of the fifth year?


A.

£1,150.00


B.

£1,157.63


C.

£1,159.27


D.

£1,276.28


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