You are considering moving your money to a new bank offering a one-year CD that pays an
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You are considering moving your money to a new bank offering a one-year CD that pays an 8% APR with monthly compounding. Your current bank’s manager offers to match the rate you have been offered. The account at your current bank would pay interest every six months. How much interest will you need to earn every six months to match the CD?
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So in this question we are provided with the New bank offering a oneyear Annual percentage rat...View the full answer
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Surbhi kapoor
Finance has always been a subject of my interest. I have been indulged in helping my classmates with this subject right from the beginning of my CA cirriculum. Helping students gives me immense amount of satisfaction. Also as I have been helping my friends from a long time with this subjects of finance, accounting and cost accounting, it has developed me to make myself more expressive about the concepts of subjects. And I also feel that I understand the problem area in a particular question. This quality makes me to better understand the student's confusion and try to answer correctly.
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