Your best friend has written you an IOU for last nights bar tab agree 6 years at the same interest rate you now earn on your savings account. You currently are ea interest compounded annually. What was your friends bar tab? $33.36 $333.60 O $532.80 O $833.36 Glad to Alcoholics Anonymous
Your best friend has written you an IOU for last nights bar tab agree 6 years at the same interest rate you now earn on your savings account. You currently are ea interest compounded annually. What was your friends bar tab? $33.36 $333.60 O $532.80 O $833.36 Glad to Alcoholics Anonymous
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:Your best friend has written you an IOU for last nights bar tab agreeing to pay you $800 at the end of
6 years at the same interest rate you now earn on your savings account. You currently are earning 7%
interest compounded annually. What was your friends bar tab?
O $33.36
O $333.60
O $532.80
O $833.36
You are going to send your friend to Alcoholics Anonymous
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