Today, you invest EUR 10,000 in a bank account with maturity 2 years. At maturity, the final
Fantastic news! We've Found the answer you've been seeking!
Question:
Today, you invest EUR 10,000 in a bank account with maturity 2 years. At maturity, the final payoff is EUR 11,236. Determine the interest rate of your bank account (assume a compound interest rate).
a. 6.000% annual.
b. 0.487% monthly.
c. Both A and B are correct
. d. None of the above
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
Posted Date: