First Simple Bank pays 9.7 percent simple interest on its investment accounts. First Complex Bank pays interest
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First Simple Bank pays 9.7 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. What rate should the bank set if it wants to match First Simple Bank over an investment horizon of 8 years?
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Total interest paid by First Simple bank Simple Interest Rate Time years 0978 ...View the full answer
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ALBANUS MUTUKU
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th Edition
Authors: Stephen A. Ross, Randolph W. Westerfield, Bradford D.Jordan
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