If you promise to leave S35.000 on deposit at the Dime Savings Bank for four years, the
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If you promise to leave S35.000 on deposit at the Dime Savings Bank for four years, the bank will give you a new large, fiat-screen Sony TV today and your S35.000 back at the end of four years. How much are you paying today for the TV. in effect, if the bank pays other customers 8 percent interest compounded quarterly (2 percent paid four times per year)?
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Related Book For 
Financial Accounting Introduction To Concepts Methods And Uses
ISBN: 9780324222975
11th Edition
Authors: Clyde P. Stickney, Roman L. Weil
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