Question
1. A demand loan for $9565.91 with interest at 9.6% compounded monthly is repaid after 7 years, 2 months. What is the amount of interest
1. A demand loan for $9565.91 with interest at 9.6% compounded monthly is repaid after 7 years, 2 months. What is the amount of interest paid?
2. An investment of $3910.75 earns interest at 6.9% per annum compounded annually for 2 years. At that time the interest rate is changed to 9% compounded monthly. How much will the accumulated value be 1.5 years after the change?
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Entrepreneurial Finance Strategy, Valuation, And Deal Structure
Authors: Janet Smith, Richard Smith, Richard Bliss
1st Edition
0804770913, 9780804770910
