Suppose that on January 1 you deposit $100 in an account that pays a nominal (or quoted)

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Suppose that on January 1 you deposit $100 in an account that pays a nominal (or quoted) interest rate of 11.33463%, with interest added (compounded) daily. How much will you have in your account on October 1, or 9 months later?

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Corporate Finance A Focused Approach

ISBN: 978-1439078082

4th Edition

Authors: Michael C. Ehrhardt, Eugene F. Brigham

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Question Posted: Aug 27, 2022 06:38 AM

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Suppose that on January 1 you deposit $100 in an account that pays a nominal (or quoted)

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Answer The daily periodic interest rate is r Per 113346365 0031054 There are 273 days between January 1 and October 1 Calculate FV as follows FV 273 1...View the full answer

Corporate Finance A Focused Approach

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