2. Compound interest (S2.1) Old Time Savings Bank pays 4% interest on its savings account. If you...
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2. Compound interest (S2.1) Old Time Savings Bank pays 4% interest on its savings account.
If you deposit $1,000 in the bank and leave it there:
a. How much interest will you earn in the first year?
b. How much interest will you earn in the second year?
c. How much interest will you earn in the tenth year?
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Related Book For 
Principles Of Corporate Finance
ISBN: 9781264080946
14th Edition
Authors: Richard Brealey, Stewart Myers, Franklin Allen, Alex Edmans
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