Question: If you can earn 10% interest compounded annually on your checking account balance, how much must you deposit into your checking account today in order

If you can earn 10% interest compounded annually on your checking account balance, how much must you deposit into your checking account today in order to have $1,000 one year from now?

a. $850

b. $1,000

c. $900

d. None of these answers

e. $1,100

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