Differences in compounding of interest
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How much difference does it make for a bank account whether there is continuous compounding of interest, or monthly or annual compounding?
Using the below information:
$2000 deposited in account
interest rate of 2.25%
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The solution calculates the differences in compounding of interest.
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Differences in compounding of interest : continuous, monthly, or annual
How much difference does it make for a bank account whether there is continuous compounding of interest, or monthly or annual compounding?
Using the below information:
$2000 ...
Purchase this Solution
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