You can earn $38 in interest on a $1000 deposit for eight months. If the EAR is
Question:
You can earn $38 in interest on a $1000 deposit for eight months. If the EAR is the same regardless of the length of the investment, determine how much interest will you earn on a $1000 deposit for
a. 9 months.
b. 1 year.
c. 1.6 years.
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Since the EAR is the same regardless of the investment length we can use the given information to ca...View the full answer
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Related Book For
Corporate Finance The Core
ISBN: 9781292158334
4th Global Edition
Authors: Jonathan Berk, Peter DeMarzo
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