You have $5,300 to invest. Regency Bank offers 6 percent per year compounded monthly (.50 percent per

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You have $5,300 to invest. Regency Bank offers 6 percent per year compounded monthly (.50 percent per month), while King Bank offers 6 percent but will only compound annually.

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How much will your investment be worth in 16 years at each bank?

Related Book For answer-question

Contemporary Financial Management

ISBN: 978-1285198842

13th edition

Authors: R. Charles Moyer, James R. McGuigan, Ramesh P. Rao

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Posted Date: Oct 08, 2018 12:23 AM

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You have $5,300 to invest. Regency Bank offers 6 percent per year compounded monthly (.50 percent per

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Contemporary Financial Management

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