Question
Your friend promises to pay $2.50 for the next 5 years (five times, beginning next year). In return, the friend is asking for $10 today.
Your friend promises to pay $2.50 for the next 5 years (five times, beginning next year). In return, the friend is asking for $10 today.
Chase bank is currently offering 4% in compound interest rate, which is what you were going to do with the $10.
Should you lend the money to your friend?
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International Financial Reporting Standards An Introduction
Authors: Belverd E. Needles, Marian Powers
3rd Edition
1133187943, 978-1133187943
