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10. Suppose on January 1 you deposit $200 in an account that pays a quoted interest rate of 11.33% (APR), with interest added (compounded) daily.
10. Suppose on January 1 you deposit $200 in an account that pays a quoted interest rate of 11.33% (APR), with interest added (compounded) daily. How much will you have in your account on October 1, or after 9 months? (assume N = 273 days) Recall that the interest rate (l/Y) represents the periodic rate based on how many times per YEAR the interest is compounded. Hint, this is 365 times per year
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The Oxford Handbook Of Private Equity
Authors: Douglas Cumming
1st Edition
0195391586, 978-0195391589
