Question
Two local finance companies quote the following nominal interest rates for savings. Which company pays its savers the most? Company A: interest on a savings
Two local finance companies quote the following nominal interest rates for savings. Which company pays its savers the most?
- Company A: interest on a savings account at 7.00% compounded monthly
- Company B: pays 7.05% on a savings account compounded semi-annually.
- A and B pay the same amount
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Microeconomics
Authors: Austan Goolsbee, Steven Levitt, Chad Syverson
2nd edition
1464187029, 978-1464189104, 1464189102, 978-0716759751, 716759756, 978-1464187025
