A person deposits $21600 in a bank that offers a compound interest rate of 10% per annum.

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A person deposits $21600 in a bank that offers a compound interest rate of 10% per annum. What is the compound interest on the principal deposit at the end of two years?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Dec 21, 2023 11:38 PM

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A person deposits $21600 in a bank that offers a compound interest rate of 10% per annum.

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To calculate the compound interest on the principal deposit we can use ... View the full answer

Principles of Finance

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