A bank offers two alternative interest schedules for a savings account of $100,000 locked in for 3

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A bank offers two alternative interest schedules for a savings account of $100,000 locked in for 3 years:

(a) a monthly rate of 1% and

(b) an annually, continuously compounded rate, rcc, of 12%. Which alternative should you choose?

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ISE Investments

ISBN: 9781260571158

12th International Edition

Authors: Zvi Bodie, Alex Kane, Alan Marcus

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Question Posted: Mar 13, 2024 05:00 AM

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A bank offers two alternative interest schedules for a savings account of $100,000 locked in for 3

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ISE Investments

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