Assume an interest rate of 7% per year. How much would you lose over 10 years if you received 65% instead of compounded interest?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
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Need correct answer general accounting question

Assume an interest rate of 7% per year. How much
would you lose over 10 years if you received 65%
instead of compounded interest?
Transcribed Image Text:Assume an interest rate of 7% per year. How much would you lose over 10 years if you received 65% instead of compounded interest?
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