You can earn $50 in interest on a $1000 deposit for eight months. If the EAR is
Question:
You can earn $50 in interest on a $1000 deposit for eight months. If the EAR is the same regardless of the length of the investment, determine how much interest you will earn on a
$1000 deposit for
a. 6 months.
b. 1 year.
c. 1½ years.
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