Question
1. Michael Truman deposits $4,000 in National Bank at 6% compounded quarterly. What is the effective rate (APY) of interest? (round answer to nearest hundredth)
1. Michael Truman deposits $4,000 in National Bank at 6% compounded quarterly. What is the effective rate (APY) of interest? (round answer to nearest hundredth)
2. Barry Carr believes that in 20 years he will need $300,000 to buy a retirement cottage. Assuming he gets an interest rate of 7% compounded annually, how much will he have to invest today to purchase the cottage?
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The Secret Of Real Estate Best Strategies On How To Earn With Real Estate Investments
Authors: Chris Brandon
1st Edition
979-8838170026
