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1. A bank is offering to sell certificates of deposit valued at $ 2,000.00. At the end of 4 years, the bank will pay $2,860.00
1. A bank is offering to sell certificates of deposit valued at $ 2,000.00. At the end of 4 years, the bank will pay $2,860.00 to the certificate owner. Based on a two- month interest period: a) What is the interest rate the bank is paying you each interest period? 2 b) What are the nominal and effective interest rates on this certificate of deposit
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The Edgerston Audit
Authors: Don Akenson
1st Edition
0802709915, 978-0802709912
