Home /
Expert Answers /
Algebra /
your-client-invested-10-000-in-an-interest-bearing-promissory-note-earning-an-11-annual-rate-of-in-pa925
(Solved): Your client invested $10,000 in an interest-bearing promissory note earning an 11% annual rate of in ...
Your client invested
$10,000in an interest-bearing promissory note earning an
11%annual rate of interest, compounded monthly. How much will the note be worth at the end of 7 years, assuming that all interest is reinertied at the 11X rate?
$13,788,43
$20,762.60.
$21.04852.
$21.522.04