Lecture Notes on Time Value of Money
5. If interest is compounded monthly, how much will you have in a bank account, a. if you deposit today £8,000 at the end of 3 months, if the bank pays 5.0% APR ? Answer: £8,100 . b. if you deposit today $10,000 at the end of 6 months, if the bank pays 9.0% APR ? Answer: $10,459 ................
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