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Suppose you decide to deposit $24,000 in a savings account that pays a nominal rate of 12%, but interest is compounded d
Posted: Sun Jun 05, 2022 10:01 am
by answerhappygod
- Suppose You Decide To Deposit 24 000 In A Savings Account That Pays A Nominal Rate Of 12 But Interest Is Compounded D 1 (8.63 KiB) Viewed 36 times
Suppose you decide to deposit $24,000 in a savings account that pays a nominal rate of 12%, but interest is compounded daily. Based on a 365-day year, how much would you have in the account after four months? (Hint: To calculate the number of days, divide the number of months by 12 and multiply by 365.) O $25,479.16 $24,230.18 O $24,979.57 O $26,478.34