Question: please do it in 10 minutes will upvote BbA114 SECTION A - ANSWER ALL QUESTIONS IN THIS PART 1. A bank account pays 5.3 %

please do it in 10 minutes will upvote BbA114 SECTION A

please do it in 10 minutes will upvote

BbA114 SECTION A - ANSWER ALL QUESTIONS IN THIS PART 1. A bank account pays 5.3 % interest per year. Joe deposits EUR 12,000 today. (Total: 10 marks) a. How much will be in the account after 20 years if interest is compounded monthly? (3 marks) b. How much will be in the account after 20 years if interest is compounded continuously? (3 marks) c. Calculate the AER in case a. above (to three decimal places). (3 marks) d. Explain the concept of AER in the context of saving. (1 mark)

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