Question
Trish Harris has deposited $2500 today in an account paying 6 per cent interest annually. What would be the simple interest earned on this investment
Trish Harris has deposited $2500 today in an account paying 6 per cent interest annually. What would be the simple interest earned on this investment in five years? If the account paid compound interest, what would be the interest-on-interest in five years?
a. $150; $845.56
b. $150; $95.56
c. $95.56; $845.56
d.$750; $95.56
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Fundamentals Of Financial Management
Authors: James Van Horne, John Wachowicz
13th Revised Edition
978-0273713630, 273713639
