Question
You have just started to deposit $300 at the end of each month into a bank account. The bank manager states that you can receive
You have just started to deposit $300 at the end of each month into a bank account. The bank manager states that you can receive $25,000 after 6 years from that account, if there is no transaction other than monthly deposits. What is interest rate provided by the bank for this account?
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Foundations Of Finance
Authors: Arthur J. Keown, John H. Martin, J. William Petty
10th Edition
0135160618, 978-0135160619
