Question
A dollar invested today grows to $1.10 in six months. What is the effective annual rate if you deposit your money in a bank for
A dollar invested today grows to $1.10 in six months. What is the effective annual rate if you deposit your money in a bank for one year? please explain details.
| A. | 21% | |
| B. | 5% | |
| C. | None of the answers are correct | |
| D. | 10% | |
| E. | 20% |
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Fundamentals Of Financial Planning
Authors: Michael A Dalton, Joseph Gillice
3rd Edition
1936602091, 9781936602094
