TeachMeFinance.com - explain Compound interest note
Compound interest note -- A legal tender note issued by the
government in the War of the Rebellion. It was payable in
three years with interest at 6 per cent, compounded semiannually,
the interest being payable with the principal at
maturity. The ten-dollar note, which was the smallest issued,
was worth $11.94 at maturity.
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