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a. At what rate must $400 be compounded annually for it to grow to $900.88 in 12 years? Submit your answer as a percentage and
a. At what rate must $400 be compounded annually for it to grow to $900.88 in 12 years? Submit your answer as a percentage and round to two decimal places.
b. How much money must be put into a bank account yielding 5.25% (compounded monthly) in order to have $6,800 at the end of 11 years? Round to two decimal places.
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The Economics Of Money Banking And Financial Markets
Authors: Frederic S. Mishkin
12th Global Edition
1292268859, 978-1292268859
