Bank A pays 6% simple interest on its savings account balances. Bank B pays 5.5% interest compounded

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Bank A pays 6% simple interest on its savings account balances. Bank B pays 5.5% interest compounded annually. If you made a $10,000 deposit in each bank, which bank provides you more money at the end of 15 years?

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Fundamentals of Engineering Economics

ISBN: 978-0132775427

3rd edition

Authors: Chan S. Park

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Question Posted: Oct 12, 2018 01:50 PM

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Bank A pays 6% simple interest on its savings account balances. Bank B pays 5.5% interest compounded

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Fundamentals of Engineering Economics

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