A person invests 100,000 TL in bank deposits with an annual nominal interest rate of 10%, convertible to 6 months. After about how many years, this money will be 330.000 TL.
A person invests 100,000 TL in bank deposits with an annual nominal interest rate of 10%, convertible to 6 months. After about how many years, this money will be 330.000 TL.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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A person invests 100,000 TL in bank deposits with an annual nominal interest rate of 10%, convertible to 6 months. After about how many years, this money will be 330.000 TL.
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