Bank of Vancouver pays 7% simple interest on its savings account balances, whereas Bank of Calgary pays
Question:
Bank of Vancouver pays 7% simple interest on its savings account balances, whereas Bank of Calgary pays 7% interest compounded annually. If you made a $6,000 deposit in each bank, how much more money would you earn from your Bank of Calgary account at the end of 9 years?
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The simple interest per year is 6000 007 420 So after 9 year...View the full answer
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9781259654756
10th Canadian Edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan, Gordon Roberts, J. Ari Pandes, Thomas Holloway
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