Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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To be able to buy a new computer, Donna decides to save for 5 years. She opens a savings account with $400. The account pays simple interest at an annual rate of 3%. She doesn't make anymore deposits.
a) how much total interest will Donna earn?
b) what will the total amount in the account be (including interest)?
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