We start a year with $200 and receive $100 during the year. We also receive 10 percent
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We start a year with $200 and receive $100 during the year. We also receive 10 percent interest at the end of the year, with the interest based on our starting balance. In this case, we end the year with $320. Determine the ending balance for the year if interest accrues on the average of our starting and ending balance.
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Related Book For 
Microsoft Excel Data Analysis And Business Modeling
ISBN: 9780137613663
7th Edition
Authors: Wayne Winston
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