Question
Jane deposited $2000 in his savings account last year and earned $60 in interest. She has decided to leave the $60 in the account so
Jane deposited $2000 in his savings account last year and earned $60 in interest. She has decided to leave the $60 in the account so that he can earn interest on the $60 this year. Assuming the interest rate does not change, how much will be the interest earned on her account this year (compound interest)?
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Intermediate Financial Management
Authors: Eugene F Brigham, Phillip R Daves
14th Edition
0357516664, 978-0357516669
