Question
Dr. Rubin has $10,000 to invest for three years.Two banks offer a 2 percent interest rate, but bank A compounds quarterly and bank B compounds
Dr. Rubin has $10,000 to invest for three years.Two banks offer a 2 percent interest rate, but bank A compounds quarterly and bank B compounds semiannually.To what value would his money grow in each of the two banks?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
