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have regular savings account with an available balance of 5000 how much net interest is earned by this deposit

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter5: The Time Value Of Money

Section: Chapter Questions

Problem 1P

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Michael have regular savings account with an available balance of 5000 how much net interest is earned by this deposit account for a month of the prevailing bank's interest rate is 0.5% per annum and the withholding tax is 20%

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