I plan to invest $100 in my savings account today. The savings account pays interest every six
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I plan to invest $100 in my savings account today. The savings account pays interest every six months. The advertised stated rate is 9%. I will probably cash out my investment in 3 years. That will be on a Tuesday when there is an eclipse of the Sun according to the updated Mayan calendar. This will be the 2nd eclipse on a Tuesday to occur within the last 365 days.
What is the effective rate?
Related Book For
Corporate Finance A Focused Approach
ISBN: 978-1305637108
6th edition
Authors: Michael C. Ehrhardt, Eugene F. Brigham
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