How much will you owe at the end of the year

Reference no: EM13190410

We-Are-There-To-Get-You Loan Company lends you $550 if you agree to pay $750 after 5 days. If you kept the money for a year on the same terms, how much will you owe at the end of the year? Assume the company compounds money on a 5-day basis and a year = 365 days.

Reference no: EM13190410

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How much will you owe at the end of the year : We-Are-There-To-Get-You Loan Company lends you $550 if you agree to pay $750 after 5 days. If you kept the money for a year on the same terms, how much will you owe at the end of the year? Assume the company compounds money on a 5-day basis and a ..

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