Suppose you invest $101 in a bank account, and five years later it has grown to $136.14.
Question:
Suppose you invest $101 in a bank account, and five years later it has grown to $136.14.
a. What APR did you receive if the interest was compounded semiannually?
b. What APR did you receive if the interest was compounded monthly?
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Related Book For
Corporate Finance The Core
ISBN: 9781292158334
4th Global Edition
Authors: Jonathan Berk, Peter DeMarzo
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