Lee loaned Ray $16,700 to open his own photo gallery which he had dreamed about since he was a young boy. After 6 years time, Ray will repay Lee with 8% compounded quarterly.<\/p>
<\/p>
How much will Ray pay back to Lee after six years time?<\/p>", "transcribed_text": "", "related_book": { "title": "The Changing Geography Of Banking And Finance", "isbn": "1441947205, 978-1441947208", "edition": "1st Edition", "authors": "Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/2024\/03\/66050c9f889e3_94366050c9f62f22.jpg", "uri": "\/textbooks\/the-changing-geography-of-banking-and-finance-1st-edition-978-1441947208-260622", "see_more_uri": "" }, "free_related_book": { "isbn": "1259720683", "uri": "\/textbooks\/personal-finance-12th-edition-1440", "name": "Personal Finance", "edition": "12th edition" }, "question_posted": "2024-06-07 08:17:27", "see_more_questions_link": "\/study-help\/questions\/business-economics-2023-September-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/the-current-asset-section-of-the-excalibur-tire-companys-balance", "description": "The current asset section of the Excalibur Tire Company's balance sheet consists of cash, marketable securities, accounts receivable, and inventories. 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