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Is Urgent The client deposited the amount of PLN 20000 1.25 years ago at a rate of 4% (interest rate with quarterly capitalization). Currently, the
Is Urgent
The client deposited the amount of PLN 20000 1.25 years ago at a rate of 4% (interest rate with quarterly capitalization). Currently, the bank reduced the interest rate to 2.5% and changed the capitalization to monthly. The deposit will continue for nine months. a. Please calculate the total amount accumulated on the deposit and the client's earnings. b. Please calculate the effective interest rate for each period of this deposit (for the first 1. 2 5 years and for the next nine months). C. Please calculate the effective average interest rate for the entire deposit period (in total)Step by Step Solution
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