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Personal Finance
If you lend your younger brother $500 for a tattoo of "ECU" across the middle of his forehead and he agrees to pay you back in five years at an annually compounded rate of 10%, how much will you collect at the end of year 5?
If you lend your younger brother $500 for a tattoo of "ECU" across the middle of his forehead and he agrees to pay you back in five years at an annually compounded rate of 10%, how much will you collect at the end of year 5?
If you lend your younger brother $500 for a tattoo of "ECU" across the middle of his forehead and he agrees to pay you back in five years at an annually compounded rate of 10%, how much will you collect at the end of year 5?
Answer: $805.50
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If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.