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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
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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

User Anders Cedronius
by
8.5k points

1 Answer

1 vote

Answer:

1) $47,740.50

2) $47,761.36

Explanation:

hope this helps :)

Prem has $45000 to invest for 1 year. The bank tells him the interest rate is 6%. Calculate-example-1
User JNat
by
8.1k points
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