Suppose an investment of 7000 earns 3 annual interest, Financial Management

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Suppose an investment of 7000 earns 3 annual interest

Suppose an investment of $7,000 earns 3% annual interest, compounded quarterly for a period of one year. When computing your income taxes, you find that the applicable federal rate is 28% of the interest and the applicable state rate is 7% of the interest. How much of the return on your investment do you keep?

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Financial Management: Suppose an investment of 7000 earns 3 annual interest

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