Question
For a $1,720 deposit, a bank offers two choices: Account A pays interest at an APR of 7.4%. Account B pays an APR of 3.6%,
For a $1,720 deposit, a bank offers two choices: Account A pays interest at an APR of 7.4%. Account B pays an APR of 3.6%, but pays a one-time bonus of $53 at the end of 4 years. What is the final value of account A minus the final value of account B?
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Personal Finance
Authors: Jeff Madura
7th Edition
0134989961, 978-0134989969
