A savings account pays a 3% nominal annual
interest rate and has a balance of $1,000. Any
int...
Mathematics, 16.11.2020 23:10 alvaradovanessa14
A savings account pays a 3% nominal annual
interest rate and has a balance of $1,000. Any
interest earned is deposited into the account
and no further deposits or withdrawals are
made.
If interest is compounded semi-annually (twice
a year), what interest rate would be used for
each calculation? (Do NOT put a % symbol on
your answer.)
Answers: 2
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