A bank account with an Annual Percentage Rate (APR) of 18% pays interest on a weekly

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A bank account with an Annual Percentage Rate (APR) of 18% pays interest on a weekly basis. If an investor initially deposits £1,000.

How much would this initial investment have grown to after two years? Assume that there are 52 weeks in a year?

Related Book For answer-question

Financial Management Core Concepts

ISBN: 978-0132671033

2nd edition

Authors: Raymond M Brooks

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Posted Date: Apr 08, 2023 01:02 AM

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A bank account with an Annual Percentage Rate (APR) of 18% pays interest on a weekly

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We can use the formula for compound interest to calcul... View the full answer

Financial Management Core Concepts

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