You loaned money to friend's housing development business. Under the loan terms, the development business will pay

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You loaned money to friend's housing development business. Under the loan terms, the development business will pay you $250,000 at the end of 3 years and an additional $250,000 at the end of 5 years. If you invest these payments in an account earning 7% per year with monthly compounding, how much will you have at the end of five years?

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Posted Date: May 18, 2024 09:00 AM

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You loaned money to friend's housing development business. Under the loan terms, the development business will pay

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