Assume you make a single deposit of $1000 into a savings account that pays interest at 0.5%
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Assume you make a single deposit of $1000 into a savings account that pays interest at 0.5% per month. If you want to know how much the account will be worth in 5 years, the only values you can use for i and n are
a. Effective i per month and n 60
b. Effective i per quarter and n 30
c. Effective i per semiannual period and n 10
d. Either
(a) or (c)
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Related Book For
Basics Of Engineering Economy
ISBN: 9780073376356
2nd Edition
Authors: Leland T. Blank, Anthony Tarquin
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