Suppose you deposit 10000 in a savings account that earns 8, Ask an Expert

Economics

Suppose you deposit $10,000 in a savings account that earns 8% nominal annual rate for 5 years. The interest will be compounded semi-annually.

a) What are the periodic and the effective annual rates?

b) What is the amount of money in the account at the end of 6 years?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91272741

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