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borteleto borteleto
wrote...
Posts: 2477
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5 years ago
Tim has $100 in a bank account paying 2% interest per year. At the end of 5 years, Tim's bank account balance will be $110 if interest is not compounded, but will be greater than $110 if interest is compounded.
[True or False]
Textbook 
Foundations of Finance

Foundations of Finance


Edition: 9th
Authors:
Read 68 times
2 Replies

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Replies
wrote...
5 years ago
 True
 
borteleto Author
wrote...
5 years ago
Just confirmed the same answer from my friend, thanks
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