Problem

For the diagram, assuming equivalence, determine the interest rate by interpolation using...

For the diagram, assuming equivalence, determine the interest rate by interpolation using the compound interest tables.

A foreign bank account pays 100% interest compounded monthly,

(a) If a company depo sits $50,000 each month, what will be in its bank account at the end of three years?
(b) What is the effective annual interest, in percent?

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Solutions For Problems in Chapter 14

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