Suppose you invest $1400 in an account paying 11 % simple interest rate per year. What is the balance in the account aft
Posted: Sun Jun 05, 2022 7:20 am
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 %.
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 %.