A saver deposits 8,450 in a savings account with an interest rate of 4.2%; after...
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A saver deposits € 8,450 in a savings account with an interest rate of 4.2%; after two years, the rate has fallen to 2.4%; then, four years later, it is lowered again to 1.80%. Three years later, the saver gets his savings back. a. What is the saver's final capital? b. What is the average annual rate of return? A saver deposits € 8,450 in a savings account with an interest rate of 4.2%; after two years, the rate has fallen to 2.4%; then, four years later, it is lowered again to 1.80%. Three years later, the saver gets his savings back. a. What is the saver's final capital? b. What is the average annual rate of return?
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