Compound interest Treasury notes authorized in 1863 and 1864 after they were purchased could be used as
Question:
Compound interest Treasury notes authorized in 1863 and 1864 after they were purchased could be used as currency with the added bonus that they could be redeemed three years after they were issued. Find the redeemed value for each of the notes in Problems 33-36 if 6\% interest compounded semiannually.
Fifty dollar compound interest note
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Step by Step Answer:
To answer this question we need to use the formula for compound interest which is Future Value FV P1 ...View the full answer
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Renu Sehray
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