Your client invested $10,000 in an interest bearing promissory note earning an 11% annual rate of interest,

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Your client invested $10,000 in an interest bearing promissory note earning an 11% annual rate of interest, compounded monthly. How much will the note be worth at the end of 7 years, assuming that all interest is reinvested at the 11% rate?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Feb 26, 2024 04:35 AM

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Your client invested $10,000 in an interest bearing promissory note earning an 11% annual rate of interest,

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To calculate the future value of the investment compounded monthly we can u... View the full answer

Personal Finance Turning Money into Wealth

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