Suppose a customer's house increased in value over five years from $150,000 to $250,000. What was the annual growth rate of the property value during this five-year interval? Three local banks pay different interest rates on time deposits with one-year maturities.

Rank the three banks from highest to lowest in terms of the depositor's return.

Bank 1-4.5 percent per year compounded annually

Bank 2-4.3 percent per year compounded quarterly

Bank 3-4.1 percent per year compounded daily

Answer rating: 100% (QA)

Calculate the annual growth rate of the property value during this fiveyear interval Also ... View the full answer