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Question5 A bank gives its customers an interest rate of 10% that it compounds half yearly.

Question5

A bank gives its customers an interest rate of 10% that it compounds half yearly. Is it possible to determine the amount of money that someone will have in their account if they deposit in their accounts $ 50,000 and let it stay in the account for three years?

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To get the amount of money that will be in the accounts of the people it is good to use... View the full answer

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This requires the calculation of the future value... View the full answer

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