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1 2 3 4 You have just received a bonus of $15,000 and are looking to deposit the money in a bank for 4 years. You have investigated the annual deposit rate of several banks and collected the following information: Bank i. Annual rate Compounding frequency 0.50% 0.90% 0.75% 0.80% Monthly Quarterly Daily Annually To determine which bank you should deposit your money in, calculate how much money you will earn at the end of 4 years at each bank. (round your answer to 2 decimal places). 1 2 3 4 You have just received a bonus of $15,000 and are looking to deposit the money in a bank for 4 years. You have investigated the annual deposit rate of several banks and collected the following information: Bank i. Annual rate Compounding frequency 0.50% 0.90% 0.75% 0.80% Monthly Quarterly Daily Annually To determine which bank you should deposit your money in, calculate how much money you will earn at the end of 4 years at each bank. (round your answer to 2 decimal places).
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Answer Total money at the end of 4th year Commonwealth Bank of Australia Mo... View the full answer
Related Book For
Business Communication
ISBN: 978-1439080153
8th edition
Authors: Buddy Krizan, Patricia Merrier, Joyce P. Logan, Karen Schneiter Williams
Posted Date:
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