Question
You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you
You have a savings account in which you leave the funds for one year without adding to or withdrawing from the account. Which would you rather have: a daily compounded rate of 0.0500.050%,
a weekly compounded rate of 0.3250.325%,
a monthly compounded rate of 1.451.45%,
a quarterly compounded rater of 4.004.00%,
a semiannually compounded rate of 77%,
or an annually compounded rate of 1717%?
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International Financial Reporting A Practical Guide
Authors: Alan Melville
6th edition
1292200743, 1292200766, 9781292200767, 978-1292200743
