Question
Two banks offer different interest rates on your deposit of $10,000 over 3 years. Bank A offers an 8% interest compounded annually and Bank B
Two banks offer different interest rates on your deposit of $10,000 over 3 years. Bank A offers an 8% interest compounded annually and Bank B offers an 8.5% simple annual interest. Which would earn the most interest (INT) over the 3 year period, and by how much?
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Bank A Principal P 10000 Interest rate 8 compounded annually Ti...
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Microeconomics
Authors: Dean Karlan, Jonathan Morduch
1st edition
978-0077332587, 007733258X, 978-0077332648, 77332644, 978-1259163531
