Question
If Tom deposit $10,000 to Bank A with simple interest rate of 2% per quarter for 5 years. How much will he get at the
If Tom deposit $10,000 to Bank A with simple interest rate of 2% per quarter for 5 years. How much will he get at the end of year 5? If Matt deposit $10,000 to Bank B with compound interest rate of 2% per quarter for 5 years. How much will he get at the end of year 5? Please explain the difference between the amount that Tom and Matt get?
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The Financial Services Marketing Handbook
Authors: Evelyn Ehrlich
2nd Edition
1118065719, 978-1118065716
