Question
You place $4,000.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in an account with an interest rate of
You place $4,000.00 in a bank account with an interest rate of 5.25% APR and another $2,000.00 in an account with an interest rate of 6.00% APR.
a. How much interest will be earned for each account on the original principal in 6 months?
b. what is the difference in the amount of interest earned?
c. which account has your money working for your best?
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Cases in Financial Reporting
Authors: Michael J. Sandretto
1st edition
538476796, 978-0538476799
