Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Appendix D - Time Value of Money - Brief Exercises: BED-4

Answer

The total amount is $12,800.

Work Step by Step

The original principal is 8000. The interest earned is 4800. $t=8000+4800=12,800$
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