Over a period of four and half years an investment grows to $ 2 0 , 0
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Question:
Over a period of four and half years an investment grows to $
a If money in this investment accummlated at a simple interest rate of what was the initial amount for the investment?
b If money in this investment accumulated at a compound interest rate of per year, what was the initial amount for the investment?
Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118155974
6th edition
Authors: Michael H. Granof, Saleha B. Khumawala
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