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4.If sales grow at 5% per year, how long before sales double? 5. Bank A pays 4% interest compounded annually on deposits, while Bank B

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4.If sales grow at 5% per year, how long before sales double? 5. Bank A pays 4% interest compounded annually on deposits, while Bank B pay 3.5% compounded daily. Based on the EAR (or EFF%), which bank should you use? Explain. (hint: calculate each EAR and then compare two EARs.) 4. If sales grow at 5% per year, how long before sales double? 5. Bank A nays 10% into

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