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You deposit 8000 today in a bank that promises to pay an annual interest of 10 Another bank wants to match the offer What quarterly interest rate should the bank pay in order to provide the same

You deposit $8,000 today in a bank that promises to pay an annual interest of 10%. Another bank wants to match the offer. What quarterly interest rate should the bank pay in order to provide the same interest as the 10% annual rate? Provide the rates per annum.

 

Sep 03 2020 View more View Less

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