SOLUTION: which of the two cases below yields a higher interest amount for an initial investment and why.
A simple interest rate of 13% paid at the end of one year
A monthly int
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Question 329471: which of the two cases below yields a higher interest amount for an initial investment and why.
A simple interest rate of 13% paid at the end of one year
A monthly interest rate of 1% on the balance at the end of each month for one year.
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
A simple interest rate of 13% paid at the end of one year
= 13%
A monthly interest rate of 1% on the balance at the end of each month for one year.
=
=~ 12.7%
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