1. A person deposits an amount of 100 dinars on the first day of each month of the year 2015, and withdraws an amount of 100 dinars on the last day of every quarter of the same year. If the interest rate in both cases is 5% annually, find the balance of that person in end of 2015?
1. A person deposits an amount of 100 dinars on the first day of each month of the year 2015, and withdraws an amount of 100 dinars on the last day of every quarter of the same year. If the interest rate in both cases is 5% annually, find the balance of that person in end of 2015?
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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