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If I invest $63,000 today in a bond, the state will pay me $100,000 in seven years. My cousin says that if I loan
If I invest $63,000 today in a bond, the state will pay me $100,000 in seven years. My cousin says that if I loan him the money for five years he will give me double the annual compounded interest rate that the state will. He promises to pay it all off in one payment at the end of five years. How much would my cousin owe me in five years?
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Lets break down the information step by step 1 Cost of bond You are investing 63000 in a bond 2 Amou...
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Financial Accounting and Reporting a Global Perspective
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
4th edition
978-1408066621, 1408066629, 1408076861, 978-1408076866
