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13. (FV calculation with stated rate) You plan to put $1,000 in a savings plan and leave it there for 5 years. You can choose

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13. (FV calculation with stated rate) You plan to put $1,000 in a savings plan and leave it there for 5 years. You can choose between various alternatives. How much will you have in 5 years under each alternative? a. Bellon Bank is offering 12% stated annual interest rate, compounded once a year. b. WNC Bank is offering 11% stated annual interest rate, compounded twice a year. C. Plebian Bank is offering 10% stated annual interest rate, com- pounded monthly d. Byfus Bank is offering 11.5% stated annual interest rate, com- pounded continuously. N of Years N of Compounding per Year Annual interest rate

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