Question
A teacher won $100,000 and invests this money for 5 years at an interest rate of 4% (compounded annually). How much will the teacher have
A teacher won $100,000 and invests this money for 5 years at an interest rate of 4% (compounded annually).
How much will the teacher have in principal and interest at the end of the 5 years?
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Fundamentals of Financial Management
Authors: Eugene F. Brigham, Joel F. Houston
11th edition
324422870, 324422873, 978-0324302691
