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The interest rate that you see on credit card statements and bank accounts are given at an annual level. This is called Annual Percentage Rate

The interest rate that you see on credit card statements and bank accounts are given at an annual level. This is called Annual Percentage Rate or APR. Suppose you deposit $16,361 in a bank account for 8 years at 10% APR and quarterly compounding. How much should you have at the end

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