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please use compound interest tables. 2. Suppose your construction company loan $10,000 for 1 year to another company who agrees to pay you interest at
please use compound interest tables.
2. Suppose your construction company loan $10,000 for 1 year to another company who agrees to pay you interest at a compound rate of 10 percent/year. At the end of 1 year, the company asks to extend the loan period an additional year. The borrower company repeats the process several more times. Five years after loaning the company the $10,000, how much would the borrower company owe your companyStep by Step Solution
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