Essay
Would you prefer a savings account that paid 7 percent interest, compounded quarterly, over an account that paid 7.5 percent with annual compounding if you had $1,000 to deposit? Would the answer change if you had $100,000 to deposit?
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FV = (1 + i)n for simple interest.
FV = (...View Answer
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Correct Answer:
Verified
FV = (...
View Answer
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