Mr. X deposited 10.000 TL in a savings account for 3 years offering progressive rate of interest. Bank pays 10% per annum compounded semi-annually for the first year, 12% per annum compounded quarterly for the second year and 13% per annum compounded continuously for the third year. Find the amount at the end of 3 years
Mr. X deposited 10.000 TL in a savings account for 3 years offering progressive rate of interest. Bank pays 10% per annum compounded semi-annually for the first year, 12% per annum compounded quarterly for the second year and 13% per annum compounded continuously for the third year. Find the amount at the end of 3 years
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 1P
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Mr. X deposited 10.000 TL in a savings account for 3 years offering progressive rate of interest. Bank pays 10% per annum compounded semi-annually for the first year, 12% per annum compounded quarterly for the second year and 13% per annum compounded continuously for the third year. Find the amount at the end of 3 years?
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