Suppose you invest $1400 in an account paying 11 % simple interest rate per year. What is the balance in the account aft

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answerhappygod
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Suppose you invest $1400 in an account paying 11 % simple interest rate per year. What is the balance in the account aft

Post by answerhappygod »

Suppose you invest $1400 in an account paying 11 % simple
interest rate per year. What is the balance in the account after 9
years? How much of this balance corresponds to “interest on
interest”, and how much is the real interest rate if the inflation
rate is 9 %.
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