Question: hello, im having a hard time understanding this question from chapter 6 page 209 from the book fundamentals of Corporate Finance, 10ce. thank you 30.

hello, im having a hard time understanding this question from chapter 6 page 209 from the book fundamentals of Corporate Finance, 10ce. thank you

30. Simple Interest versus Compound Interest (LO3) Vanscoy Bank pays 7% simple interest on its investment accounts. If Vade Bank pays interest on its accounts compounded annually, what rate should the bank set if it wants to match Vanscoy Bank over an investment horizon of ten years

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