You have just deposited $1000 in an unusual bank account that pays interest biannually (once every 2
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You have just deposited $1000 in an unusual bank account that pays interest biannually (once every 2 years). If the 2-year interest rate is 8% (total interest over 2 years is 8%, not 8% per year), how much will you have in the account after 6 years?
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Related Book For
Fundamentals Of Corporate Finance
ISBN: 9780135811603
5th Edition
Authors: Jonathan Berk, Peter DeMarzo, Jarrad Harford
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