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If you have a choice to earn simple interest on $10,450 for five years at 8.2% or annually compound interest at 7.2% for 5 years
If you have a choice to earn simple interest on $10,450 for five years at 8.2% or annually compound interest at 7.2% for 5 years which one will pay more and by how much?
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International Financial Management
Authors: Jeff Madura, Roland Fox
5th Edition
1473770505, 978-1473770508
