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April 17, 2014

Homework Help: Finance

Posted by Bryan on Monday, January 10, 2011 at 9:06pm.

When Samuel Pepys, the British diarist, lent his friend Lady Sandwich 100 in 1668, he charged her 6 percent interest. If the loan was due at the end of 1 year, how much would Lady Sandwich have had to pay if interest was (a) compounded annually, (b) compounded semiannually, (c) compounded continuously?

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