You make a $500 deposit today in a savings account that pays 5% interest APY compounded quarterly. If you make no other deposit in this account, how much interest would you have earned two years from today.
You make a $500 deposit today in a savings account that pays 5% interest APY compounded quarterly. If you make no other deposit in this account, how much interest would you have earned two years from today.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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You make a $500 deposit today in a savings account that pays 5% interest APY compounded quarterly. If you make no other deposit in this account, how much interest would you have earned two years from today.
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