Explain which of the two cases below yields a higher interest amount for an initial investment and why ...
guru2009 (Not rated)
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Explain which of the two cases below yields a higher interest amount for an initial investment and why. Please use a minimum of 100 words
1. A simple interest rate of 13% paid at the end of one year
2. A monthly interest rate of 1% on the balance at the end of each month for one year
8 years ago
For the purpose of this discussion, let’s take the initial investment as P = $100 ...
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