You deposit $1,000 in your bank account. a). If the bank pays 4% simple interest, how much
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Question:
You deposit $1,000 in your bank account.
a). If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years?
b). How much will you accumulate if the bank pays compound interest?
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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