Does your equal payment period match compounding period

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Reference no: EM131517732

You deposit equal payments of $1000 in the bank for the next 5 years only. Assume the payments are made at the end of the year. What is the interest rate that you would earn if you have $6,200 at the end of five years? Assume annual compounding. Does your equal payment period match the compounding period? Please show calculations.

Reference no: EM131517732

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