A client seeking liquidity sets aside 35000 in a bank, Financial Management

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A client seeking liquidity sets aside 35000 in a bank

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A client seeking liquidity sets aside €35,000 in a bank account today. The account pays 5 percent compounded monthly. Because the client is concerned about the fact that deposit insurance covers the account for only up to €100,000, calculate how many months it will take to reach that amount.

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Financial Management: A client seeking liquidity sets aside 35000 in a bank

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Financial Management: A client seeking liquidity sets aside 35000 in a bank

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