What if bank quote annual compounding

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You need $15,000 for a new car. If you can deposit $10,000 today into an account that pays an APR of 5.5% based on daily compounding, how long will it take for you to be able to buy the new car? What if a bank quote annual compounding, how long will it take?

Reference no: EM131607945

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What if bank quote annual compounding : how long will it take for you to be able to buy the new car? What if a bank quote annual compounding, how long will it take?

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