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First Simple Bank pays 87 percent simple interest on its investment accounts First Complex Bank pays interest on its accounts compounded annually What rate should the bank set if it wants to match

First Simple Bank pays 8.7 percent simple interest on its investment accounts. First Complex Bank pays interest on its accounts compounded annually. What rate should the bank set if it wants to match First Simple Bank over an investment horizon of 8 years?

 

Sep 08 2020 Read more Less More

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