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National Trust advertises a 1-year certificate of deposit at 4.00% compounded daily with a minimum deposit of $10,000. First National offers a 1-year certificate
National Trust advertises a 1-year certificate of deposit at 4.00% compounded daily with a minimum deposit of $10,000. First National offers a 1-year certificate of deposit at 4.25% compounded quarterly with no minimum deposit. John Culbert has $20,000 to invest. a) Which bank should he choose? b) How much more would he earn on his $20,000 by choosing that bank?
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Advanced Accounting
Authors: Floyd A. Beams, Joseph H. Anthony, Bruce Bettinghaus, Kenneth Smith
11th Edition
978-0132568968, 9780132568968
