Another bank offers 1% increase in interest rate to savings accounts with a balance of more than

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Another bank offers 1% increase in interest rate to savings accounts with a balance of more than 10,000.00. Write a future value function Bank1FV(CF, r, n) that reflects this policy.

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Financial Modeling

ISBN: 9780262027281

4th Edition

Authors: Simon Benninga

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Question Posted: Dec 29, 2020 12:36 AM

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Another bank offers 1% increase in interest rate to savings accounts with a balance of more than

Question:

в с BANK1FV IN ACTION A D E 1 2 3 4 CF r Bank1FV K-- 3Bank1FV(АЗ,В3,С3) =Bank1FV(A4,B4,C4) =Bank1FV(A5,B5,C5) 59759.16 <-- =Bank1FV(A6,B6,C6) -1 5% 5 E 9999.00 5% 59620.97 <-- 10000.00 5% 59626.94 <-- 6. 10001.00 5% 7 5.96 <-- =D5-D4 8 132.22 <-- =D6-D5

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Financial Modeling

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