Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Question

Mr. Smith borrowed $10,000 from Mr. Black at 1% per day. The loan must be repaid in two weeks' time. What is the dollar amount of compounded interest on this loan?

Multiple Choice
  •  
    $94.74
  •  
    $53.70
  •  
    $3.84
  •  
    $1,494.74
  •  
    $1,400
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