How many points do you earn in interest

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Reference no: EM131233953

1. At a constant rate of return of 6% per annum, how many years does it take you to triple your money?

2. If you earn an (effective) interest rate of 12% per annum, how many basis points do you earn in interest on a typical calendar day?

3. If the bank quotes an interest rate of 12% per annum (not as an effective interest rate), how many basis points do you earn in interest on a typical day?

Reference no: EM131233953

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