Question
You have $5,400 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent per month), while King Bank offers 15 percent but
You have $5,400 to deposit. Regency Bank offers 15 percent per year compounded monthly (1.25 percent per month), while King Bank offers 15 percent but will only compound annually. How much will your investment be worth in 16 years at each Bank? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.)
| Investment value | |
| Regency Bank | $ |
| King Bank | $ |
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How To Analyse Bank Financial Statements
Authors: Thomas Padberg
1st Edition
0857195182, 978-0857195180
