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Answer to Question #88066 in Macroeconomics for chase terranera
Question #88066
Bank C promises to pay a compound annual interest rate of 6 percent, while Bank S pays an 8 percent simple annual interest rate on deposits. If you deposit $1,000 in each bank, after 10 years, your deposit in Bank C equals _____, while your deposit in Bank S equals
Expert's answer
deposit in Bank C equals 1 790.85$, while your deposit in Bank S equals 1 800.00$
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