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Suppose Eileen is an avid reader and buys only comic books Eileen deposits $3000 in a bank account that pays an annual nominal interest rate of 5%. Assume this interest rate is fixed

Suppose Eileen is an avid reader and buys only comic books. Eileen deposits $3,000 in a bank account that pays an annual nominal interest rate of 5%. Assume this interest rate is fixed—that is, it won't change over time. At the time of her deposit, a comic book is priced at $15.00.

Jun 01 2020 View more View Less

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