How much additional interest would he obtain

Assignment Help Finance Basics

Reference no: EM133558170

The local bank o?'ers to pay 5% niterest on savings deposits. In a nearby town the bank pays 1.25% per 3-month period (quarterly). A man who has $3000 to put in a savings account wonders whether the higher interest paid in the nearby town justi?es driving there to make the deposit. Assuming he will leave all money in the account for 2 years, how much additional interest would he obtain from. the out-of-town bank over the local bank? If there is a difference in the additional interest ?'om local bank and out-of-town bank, could you explain why

Reference no: EM133558170

Questions Cloud

How do nurses envision leadership role as it impacts nursing : How do nurses envision leadership role as it impacts the nursing profession? How do nurses encompass excellence and professional involvement in nursing?

What environmental forces drive organization development : What environmental forces drive organization development in your field or industry? What are the steps successful organizations take when responding to change?

Outline the identified barriers to your implementation : Outline the identified barriers to your implementation of the Nurse Burnout Prevention Project. Explain how you plan to deal with and overcome these barriers.

List the clinical findings of major depressive disorder : Describe depression. List the clinical findings of major depressive disorder. Describe how to screen for depression using an assessment tool.

How much additional interest would he obtain : How much additional interest would he obtain from. the out-of-town bank over the local bank? If there is a difference in the additional interest ?'om local

Provide justification for the screening based on the risks : Provide justification for the screening based on these risks using statistical rationale Measures of the screening are explained and supported.

Discuss the efficiency, equity, and administrability : Discuss the efficiency, equity, and administrability of a "fat tax"

Analyse the macro environment factors for tyme bank : Analyse the macro environment factors for Tyme Bank:digital disruption in SA's banking sector (Case Study). Provide article and journal references for this.

What is the new value of the? portfolio : What is the new value of the? portfolio and What return did the portfolio? earn? c. If you? don't buy or sell any shares after the price? change, what are you

User Account

All Pages