You deposit $ 1,000 in your bank account. a. If the bank pays 4% simple interest, how

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You deposit $ 1,000 in your bank account.
a. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years?
b. How much will you accumulate if the bank pays compound interest?

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Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Question Posted: Jun 30, 2016 09:10 AM

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You deposit $ 1,000 in your bank account. a. If the bank pays 4% simple interest, how

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a With simple interest you earn 4 of 1000 or 40 each yea...View the full answer

Fundamentals of Corporate Finance

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