Do the relevant calculations so you can indicate which you prefer: a bank account that pays 5%
Question:
Do the relevant calculations so you can indicate which you prefer: a bank account that pays 5% per year (EAR ) for three years or
a. an account that pays 2.5% every 6 months for 3 years?
b. an account that pays 7.5% every 18 months for 3 years?
c. an account that pays 0.5% per month for 3 years?
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Step by Step Answer:
If you deposit 1 into a bank account that pays 5 per year for 3 years you will ...View the full answer
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0321818171
2nd Canadian edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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