Question
A. Philly Bank is offering you a special offer where they will pay you 3.1% interest compounded hourly. What is the Effective Annual Rate you
A. Philly Bank is offering you a special offer where they will pay you 3.1% interest compounded hourly. What is the Effective Annual Rate you are being offered? (Assume 24 hours a day and 365 days a year.)
B. Layla has deposited $4,000 in a bank account paying 7% interest compounded monthly. How much will she have in his account after 3 years?
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Governing Global Finance
Authors: Michele Fratianni, Paolo Savona
1st Edition
1138742147, 978-1138742147
