You inherit $200,000 and decide to invest it for 28 days compounded daily at 6% annual interest.

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You inherit $200,000 and decide to invest it for 28 days compounded daily at 6% annual interest. After the 28 days, you are going to invest your new found money in a startup business.
a) How much interest is earned on this investment?
b) How much money will you have to invest in the startup after the 28 days?
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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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