SOLUTION: I purchase a tax lien certificate. After 3 months I get paid back at 16% interest. How much money do I get back?

SOLUTION: I purchase a tax lien certificate. After 3 months I get paid back at 16% interest. How much money do I get back?

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Question 526781: I purchase a tax lien certificate. After 3 months
I get paid back at 16% interest. How much money
do I get back?
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If it's 16% per year, 1.04 times whatever it cost.
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