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How much interest on interest did the company earn

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Question - Precision engineering invested $110,000 at 6.5 percent interest, compounded annually for 4 years. How much interest on interest did the company earn over this period of time?

a- $2,481.25

b- $2911.30

c- $3014,14

d- 3250.00

e- 3333.33

Reference no: EM131794280

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