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If one puts N1,000.00 for fixed deposit for a year at 10% interest rate and then puts ...

If one puts N1,000.00 for fixed deposit for a year at 10% interest rate and then puts the amount with interest for the next year and repeats it four times.
How much will he collect then at the end of the fourth year?
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  • A N1,6000.00
  • B N1,464
  • C N1,331.00
  • D N1,221.1
Correct Answer: Option B
Explanation:

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