The concept of time value of money is introduced in this chapter. As a follow-up exercise, please

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The concept of time value of money is introduced in this chapter. As a follow-up exercise, please visit a local bank and ask for the current list of interest rates the bank pays a customer on a regular checking account, a three-month certificate of deposit, and a oneyear certificate of deposit. Explain why the bank has different rates for each of these three investment instruments.

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Hospitality Financial Management

ISBN: 9780471692164

1st Edition

Authors: Agnes L DeFranco, Thomas W Lattin

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