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If the interest on the investment in Question 45.4 had been compounded every six months, how much interest would have

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If the interest on the investment in Question 45.4 had been compounded every six months, how much interest would have been earned over the four years?


Data from Question 45.4

If £5,000 is invested for four years at 7 per cent compound per annum, how much interest is earned over the five years?

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Frank Woods Business Accounting Volume 2

Frank Woods Business Accounting Volume 2

ISBN: 9780273693109

10th Edition

Authors: Frank Wood, Alan Sangster

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Question Details
Chapter # 45- Interest, annuities and leasing
Section: Review Questions
Problem: 5
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Question Posted: September 10, 2023 10:20:14
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