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Periodic interest rates. You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account.
Periodic interest rates.
You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.040%, a weekly compounded rate of 0.305%, a monthly compounded rate of 1.45%, a quarterly compounded rater of 4.00%,a semiannually compounded rate of 7%, or an annually compounded rate of 14%?
How does this get entered in a financial calculator? I have 10bii app
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