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You deposit P dollars into an account that earns a nominal rate of i compounded semiannually. At the same time, you deposit 3 P dollars
| You deposit P dollars into an account that earns a nominal rate of i compounded semiannually. At the same time, you deposit 3P dollars into an account that earns simple interest at an annual rate of i. If both deposits earn the same amount of interest in the last 6 months of year 10, what is i? |
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Financial Institutions Management A Risk Management Approach
Authors: Anthony Saunders, Marcia Cornett, Otgo Erhemjamts
10th Edition
1260013820, 978-1260013825
