Question
2 year(s) ago, Eli invested 45,011 dollars. He has earned and will earn 8.69 percent per year in compound interest. If Emily invests 70,366 dollars
2 year(s) ago, Eli invested 45,011 dollars. He has earned and will earn 8.69 percent per year in compound interest. If Emily invests 70,366 dollars in 1 year(s) from today and earns simple interest, then how much simple interest per year must Emily earn to have the same amount of money in 8 years from today as Eli will have in 8 years from today?
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Contemporary Financial Management Fundamentals
Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao
1st Edition
0324015771, 9780324015775
