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Posted by: Homeworkhelp
Price Quoted by Student: $3
Posted On: 2012-02-17 12:12:53
 
Question

Pine valley saving bank offers a certificate of deposit at 12% interest, compounded quarterly. What is the effective rate(APY) of interest?


Solutions
Effective interest rate = (1 + k/n)n 1 Interest
Price $3
Attachment 1: Pine valley saving.doc
Solution Posted By: Homeworkhelp    Posted on: 17-02-2012