Question

Prem has $45000 to invest for 1 year. The bank tells him the interest rate is 6%. Calculate how much the investment is worth at the end of the year…
1) If the interest is paid every 6 months
2) If interest is paid quarterly

Answer 1

Answer:

1) $47,740.50

2) $47,761.36

Step-by-step explanation:

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