06 Jan

Precision Engineering invested $110,000 at 6.5 per

by On: Finance - 0 Comment

Question: Precision Engineering invested $110,000 at 6.5 per

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?

Answer is $2,911.30 but please lease explain how to solve this problem on a BAII Plus calculator step by step. Thank you!

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