If you promise to leave $30,000 on deposit at the Dime Savings Bank for four years, the

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If you promise to leave $30,000 on deposit at the Dime Savings Bank for four years, the bank will give you a new large, flat-screen Sony TV today and your $30,000 back at the end of four years. How much are you paying today for the TV, in effect, if the bank pays other customers 4% interest compounded quarterly (= 1% paid four times per year)?

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Financial Accounting An Introduction to Concepts, Methods and Uses

ISBN: 978-1133591023

14th edition

Authors: Roman L. Weil, Katherine Schipper, Jennifer Francis

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