You tell him that in five years he will have to pay you 700, Financial Management

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You tell him that in five years he will have to pay you 700

1. A friend wants to borrow $600 from you and promises to pay you back in 5 years. You tell him that in five years he will have to pay you $700. What rate of interest are you charging your friend?

2. You currently have $10,000 and invest it at a rate of 5% per year. How long will it take for your investment to reach $20,000? $30,000?

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Financial Management: You tell him that in five years he will have to pay you 700

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Financial Management: You tell him that in five years he will have to pay you 700

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