Kelly Martin has $10,000 that she can deposit into a savings account for five years. Bank A
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Kelly Martin has $10,000 that she can deposit into a savings account for five years. Bank A pays compounds interest annually, Bank B twice a year, and Bank C quarterly. Each bank has a stated interest rate of 4 percent. What amount would Kelly have at the end of the fifth year if she left all the interest paid on the deposit in each bank?
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Present value of Kellys deposit PV 10000 Number of years n 5 Interest ...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-1118845899
3rd edition
Authors: Robert Parrino, David S. Kidwell, Thomas W. Bates
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