Question
You have just put $97 in the bank and your account earns 0.76% interest every month with monthly compounding. a. How much will be in
You have just put $97 in the bank and your account earns 0.76% interest every month with monthly compounding.
a. How much will be in your account after one year?
b. If your bank changed to paying interest only once per year, what yearly rate would give you the same amount as what you calculated in part a?
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Finance Applications And Theory
Authors: Marcia Cornett, Troy Adair, John Nofsinger
2nd Edition
0073530670, 9780073530673
