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Economics - Financial Markets
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OpenStudy (anonymous):
philip deposited $5,670 into a savings account 19 years ago. the account has an interest rate of 4.1% and the balance ia currently $12,356.04. how often does the interest compound
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OpenStudy (anonymous):
=5670*(1+4.1%/n)^(n*19)=12356.04 solving for n, n=365 compounding daily
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