Question
Suppose you deposited $26,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year. How much would be in the
Suppose you deposited $26,000 in a bank account that pays 5.25% with daily compounding based on a 360-day year. How much would be in the account after 8 months, assuming each month has 30 days?
| a. | $21,271.57 | |
| b. | $25,579.74 | |
| c. | $26,656.78 | |
| d. | $26,926.04 | |
| e. | $33,119.03 |
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Foundations Of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
17th Edition
126001391X, 978-1260013917
