You deposit 400 in a bank in a 7-year time deposit with a, Ask an Expert

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You deposit ?$400 in a bank in a 7?-year time deposit. With a time deposit you cannot withdraw funds from the account until the end of the term. Interest in the account is compounded semiannually ?(m=22?) at the annual nominal rate of 10?%. In the final compounding? interval, what is the dollar amount of interest that is earned from earlier interest? (rather than off of the original? principal)?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92641894

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