A shrewd investor loaned $1,000,000 to a start-up company at 10% per year interest for 3 years,
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A shrewd investor loaned $1,000,000 to a start-up company at 10% per year interest for 3 years, but the terms of the agreement were such that interest would be charged on the principal rather than on the unpaid balance. How much extra interest did the company pay?
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Interest charged on principal Interest on principal 1000...View the full answer
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Zablon Gicharu
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