A bank offers you two alternative interest schedules for a savings account of $100,000 locked in...
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A bank offers you two alternative interest schedules for a savings account of $100,000 locked in for 3 years: a) a monthly rate of 1% b) an annually, continuously compounded rate ( rcc) of 12%. Which alternative should you choose? A bank offers you two alternative interest schedules for a savings account of $100,000 locked in for 3 years: a) a monthly rate of 1% b) an annually, continuously compounded rate ( rcc) of 12%. Which alternative should you choose?
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a a monthly rate of 1 Annual rate 12 Monthly rate r ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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