Question
Max invests $6000 in a savings account for 3 years. The account pays compound interest at a rate of 1.5% per year for the
Max invests $6000 in a savings account for 3 years. The account pays compound interest at a rate of 1.5% per year for the first 2 years The compound interest rate changes for the third year. At the end of 3 years, there is a total of $6311.16 in the account. Work out the compound interest rate for the third year. Give your answer correct to 1 decimal place.
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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