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You invest $1000 for three years at a 6% annual interest rate. At the end of the first year you reinvest the 6% interest into
You invest $1000 for three years at a 6% annual interest rate. At the end of the first year you reinvest the 6% interest into the initial investment; you will earn 6% on the initial investment plus 6% interest on the interest that you reinvested. This process is called ________
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
