(No joke answers)
A savings account pays a 3% nominal annual interest rate and
has a balance...
Mathematics, 20.01.2021 17:30 lillian22
(No joke answers)
A savings account pays a 3% nominal annual interest rate and
has a balance of$1,000. Any interest earned is deposited into
the account and no further deposits or withdrawals are made.
If interest is compounded semi-annually (every six months),
what interest rate would be used for each calculation?
O 0.5%
O 3%
0 1.5%
6%
Answers: 3
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