Question
You have $7,800 to deposit. Regency Bank offers 6 percent per year compounded monthly (.5 percent per month), while King Bank offers 6 percent but
You have $7,800 to deposit. Regency Bank offers 6 percent per year compounded monthly (.5 percent per month), while King Bank offers 6 percent but will only compound annually. How much will your investment be worth in 19 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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Personal Finance Turning Money Into Wealth
Authors: Arthur Keown
8th Edition
0134730364, 978-0134730363
