Answered: You start out with $74 and find out you…

You start out with $74 and find out you can earn 6% interest on your money for the next 36 years. How much interest will you have earned after 36 years? Round to the nearest cent.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 6MC: You want to invest $8,000 at an annual Interest rate of 8% that compounds annually for 12 years....

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You start out with $74 and find out you can earn 6% interest on your money for the next 36 years. How much interest will you have earned after 36 years? Round to the nearest cent.

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