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14&15 work and formulas please 14) A bank quoted...

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Finance

14&15 work and formulas please
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14) A bank quoted 10% annual interest rate. If the banked compounds the interest rate quarterly, what would be the effective annual rate (EAR)? 15) If you deposited $5,000 in a bank that offers 12% annual interest rate. If the bank compounds the interest monthly and you want to keep your money for 5 years, how much money you will find in your account in the fit year

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