1. CitiBank Sharjah has a strange sort of savings account where the customer has deposited...
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Accounting
1. CitiBank Sharjah has a strange sort of savings account where the customer has deposited 50.000 euros and will be paid 30.000 euros in(3 years and another 30,000 at the end of year)to close the account. A) Determine the duration of this liability if a 5% interest rate is used. B) Based on your knowledge of IRR, what is the true interest rate paid, or cost of funds for this account
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