You have $6,150 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per
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You have $6,150 to deposit. Regency Bank offers 12 percent per year compounded monthly (1 percent per month), while King Bank offers 12 percent but will only compound annually. How much will your investment be worth in 20 years at each bank?
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Future value of the investment is the value that the Present value of the investment has after some ...View the full answer
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Related Book For
Essentials of Corporate Finance
ISBN: 978-1259277214
9th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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