Simple Interest versus Compound Interest First City Bank pays 8 per cent simple interest on its savings
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Simple Interest versus Compound Interest First City Bank pays 8 per cent simple interest on its savings account balances, whereas Second City Bank pays 8 per cent interest compounded annually. If you made a £10,000 deposit in each bank, how much more money would you earn from your Second City Bank account at the end of 10 years?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780077178239
3rd Edition
Authors: David Hillier, Iain Clacher, Stephen A. Ross
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