You are considering moving your money to a new bank offering a one-year CD that pays a
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You are considering moving your money to a new bank offering a one-year CD that pays a 12%
APR with monthly compounding. Your current bank’s manager offers to match the rate you have been offered. The account at your current bank would pay interest every six months. How much interest will you need to earn every six months to match the CD?
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Related Book For
Corporate Finance The Core
ISBN: 9781292431611
5th Global Edition
Authors: Jonathan Berk, Peter DeMarzo
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