What is the compounding frequency

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Reference no: EM131505631

Question: 1. Your parents make 20 equal annual deposits of $2,000 each into a bank account earning 3% interest per year. The first deposit will be made one year from today. How much money can be withdrawn from this account immediately after the 20th deposit?

2. An APR of 3.75% produces an effective annual interest rate of 3.82% What is the compounding frequency (M) in this situation?

Reference no: EM131505631

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