How much interest do you earn on a deposit

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Reference no: EM131233947

1. If the bank states an effective interest rate of 12% per annum, and there are 52.15 weeks, how much interest do you earn on a deposit of $100,000 over 1 week?

2. If the bank quotes interest of 12% per annum, and there are 52.15 weeks, how much interest do you earn on a deposit of $100,000 over 1 week?

Reference no: EM131233947

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