A manufacturing company made an investment 10 years ago, Business Economics

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A manufacturing company made an investment 10 years ago

Contributed by Hamed Kashani, Saeid Sadri, and Baabak Ashuri, Georgia Institute of Technology

A manufacturing company made an investment 10 years ago that is now worth $1,500,000. How much was the initial investment:

(a) at a simple interest rate of 10% per year?

(b) at an interest rate of 10% per year compounding annually?

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