Fred Derf found his lost passbook for a saving account that he had opened with a $100
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Fred Derf found his lost passbook for a saving account that he had opened with a $100 deposit 12 years ago. If the bank paid interest at a rate of 5% compounded annually over this period, what should be the balance in the account today?
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Related Book For
Introduction To Fixed Income Analytics
ISBN: 9780470572139
2nd Edition
Authors: Steven V. Mann, Frank J. Fabozzi
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