1)What is the nature of interest? Mary is considering two investment options for a $5,000 gift she received for graduation. Both investments have 9% annual
1)What is the nature of interest? Mary is considering two investment options for a $5,000 gift she received for graduation. Both investments have 9% annual interest rates. One offers quarterly compounding and the other compounds on a semiannual basis. Which investment should she choose and why?
2)What are the primary characteristics of an annuity? Differentiate between an ordinary annuity and an annuity due
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Authors: Steven M. Bragg
3rd Edition
0470403721, 978-0470403723
