Question
A bank offered a money market account with an APY of1.395%. A) If interest is compounded monthly, what is the equivalent annual nominal rate? B)
A bank offered a money market account with an APY of1.395%.
A) If interest is compounded monthly, what is the equivalent annual nominal rate?
B) If you wish to have $10,000 in this account after 7years, what equal deposit shouldyou make each month?
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Restructuring And Innovation In Banking
Authors: Claudio Scardovi
1st Edition
331940203X, 978-3319402031
