Basics Of Engineering Economy
Basics Of Engineering Economy
2nd Edition
ISBN: 9780073376356
Author: Leland Blank, Anthony Tarquin
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Chapter 1, Problem 45P

At 9% per year simple interest, $1000 is equivalent to $1270 in three years. Define the symbols for the compound interest rate per year that would make this equivalence correct, i.e., $1000 now and $1270 in 3 years.

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