You have $6,150 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per

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You have $6,150 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per month), while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 20 years at each bank?

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Essentials of Corporate Finance

ISBN: 978-1259277214

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Jun 30, 2016 09:31 AM

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You have $6,150 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per

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Future value of the investment is the value that the Present value of the investment has after some ...View the full answer

Essentials of Corporate Finance

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