Suppose your aunt Mrs. Mariam deposited $100 in a savings account 11 months ago. She currently...
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Suppose your aunt Mrs. Mariam deposited $100 in a savings account 11 months ago. She currently has $107.68. What was the EAR if the bank paid interest with monthly compounding? Suppose your aunt Mrs. Mariam deposited $100 in a savings account 11 months ago. She currently has $107.68. What was the EAR if the bank paid interest with monthly compounding?
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we can use the formula EAR1rnn1 Where r is the nominal i... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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