You deposit $1,000 into your bank account. If the bank pays 4% simple interest, how much will

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You deposit $1,000 into your bank account. If the bank pays 4% simple interest, how much will you accumulate in your account after 10 years? If the bank pays compound interest, how much of your earnings will be interest on interest?

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Fundamentals of Corporate Finance

ISBN: 978-1259024962

6th Canadian edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus, Devashis Mitra, Elizabeth Maynes, William Lim

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Question Posted: Nov 14, 2017 02:13 AM

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You deposit $1,000 into your bank account. If the bank pays 4% simple interest, how much will

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With simple interest you earn 4 of 1000 or 40 each year ...View the full answer

Fundamentals of Corporate Finance

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