Question
An investor places $9,170.00 in an account that pays 8.00% simple interest per year. The investor wants to find the amount of compound interest earned
An investor places $9,170.00 in an account that pays 8.00% simple interest per year. The investor wants to find the amount of compound interest earned at certain "milestones" in his investment:
| MILESTONE: | |
|---|---|
| MILESTONE 1: | 3.00 years |
| MILESTONE 2: | 8.00 years |
| MILESTONE 3: | 11.00 years |
Find the total simple interest earned through Milestone 1.
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Financial Management Principles And Applications
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
10th Edition
0131450654, 9780131450653
