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April 24, 2014

Homework Help: One time business investment

Posted by allen on Sunday, November 21, 2010 at 8:20pm.

Bobbie Rae is lending Tommy Lee $4,500 to open up a bait shop at one of the nearby lakes. Tommy Lee says he will repay Bobbie Rae at the end of 4 years with 7% interest compounded quarterly. How much will Bobbie Rae receive at the end of the 4 years? Hint: Treat this like a one time investment problem.

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