Question
Suppose an account pays 11% simple annual interest, and $7,868 is deposited into the account. If the interest is paid annually and no money
Suppose an account pays 11% simple annual interest, and $7,868 is deposited into the account. If the interest is paid annually and no money is withdrawn from the account since the initial deposit, find the balance in the account after 5 years. Round answer to two digits after the decimal point.
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Accounting Information Systems basic concepts and current issues
Authors: Robert Hurt
3rd edition
130855849X, 978-1308558493, 78025338, 978-0078025334
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