Question
Howard bought a $ 10,000.00 GIC bearing interest at 7% c.a due principal and interest in 10 years. He sold the GIC after 50 months
Howard bought a $ 10,000.00 GIC bearing interest at 7% c.a due principal and interest in 10 years. He sold the GIC after 50 months to an investor who expects to earn 5% c.s.a . How much did the investor pay Howard for the GIC?
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Management Control Systems Performance Measurement Evaluation And Incentives
Authors: Kenneth Merchant, Wim Van Der Stede
4th Edition
1292110554, 978-1292110554
