Question
Your bank pays 1.25% on Christmas Club accounts. How much must you put into an account weekly beginning on January 2 in order to accumulate
Your bank pays 1.25% on Christmas Club accounts. How much must you put into an account weekly beginning on January 2 in order to accumulate $2,500 on December 4? Assume weekly compounding and a non-leap year. (Round the final answer to two decimal places.)
The amount that has to be deposited weekly is $ ?
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The Structural Foundations Of Monetary Policy
Authors: Michael D. Bordo, John H. Cochrane, Amit Seru
1st Edition
0817921346, 978-0817921347
