You have just started to deposit $300 at the end of each month into a bank account. The bank manager states that you can receive $25,000 after 6 years from that account, if there is no transaction other than monthly deposits. What is interest rate provided by the bank for this account?

Answer rating: 100% (QA)

SOLUTION To determine the interest rate provided by the bank for this account we can use the future ... View the full answer