Would you rather have a savings account that pays 5% interest compounded semiannually or one that pays interest compounded daily? Show in excel to understand the calculation
Would you rather have a savings account that pays 5% interest compounded semiannually or one that pays interest compounded daily? Show in excel to understand the calculation
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 4QTD
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- Would you rather have a savings account that pays 5% interest compounded semiannually or one that pays interest compounded daily? Show in excel to understand the calculation
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Let assume $1000 invested for 1 years
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