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  3. you can earn $41 in interest on a $1,000 deposit f

You can earn $41 in interest on a $1,000 deposit for eight months. If the...

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Verified Solution

Question

Accounting

You can earn

$41

in interest on a

$1,000

deposit for eight months. If the EAR is the same regardless of the length of the investment, how much interest will you earn on a

$1,000

deposit for:

a.

9

months.

b. 1 year.

c.

1.1

years.

Answer & Explanation Solved by verified expert
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