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Assume you put $1,000 into an account today at a bank and leave it there for five years. The bank promises that there will be
Assume you put $1,000 into an account today at a bank and leave it there for five years. The bank promises that there will be $1,410.60 in the account at the end of the five years. What is the stated rate of interest is compounded semi annually !
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Intermediate Financial Management
Authors: Eugene F. Brigham, Louis C. Gapenski
4th Edition
0030754828, 978-0030754821
