A formula often used to find the dollar value of an
investment is A = P (1 + r) ', where A is the dollar value
after t years, P is the initial amount invested, and r is
the annual interest rate expressed as a decimal.
According to this formula, which of the following is
closest to the dollar value of $1,000 invested for
2 years at a 5% annual interest rate?
F. $1,050
G. $1,103
H. $2,000
J. $2,100
K. $2,250
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